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GIC, Australia's Vicinity Centres to swap Sydney shopping mall, CBD assets
Published Mon, Nov 6, 2017 · 09:50 PM
Singapore
SINGAPORE'S sovereign wealth fund GIC and Australian property group Vicinity Centres have agreed to undertake a property swop.
Vicinity will exchange a 49 per cent stake in Chatswood Chase Sydney mall worth A$562.3 million (S$586.7 million) for a 50 per cent stake in GIC's Queen Victoria Building, The Galeries and The Strand Arcade (known as the Sydney CBD Centres), worth A$556 million.
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