CapitaMalls Asia Puts Up $433M For Guangzhou Retail Center

Law360, New York (November 20, 2013, 1:33 PM EST) -- CapitaMalls Asia Ltd. has entered into a 2.64 billion yuan ($433.3 million) deal to buy a new shopping mall in Guangzhou, China’s bustling Baiyun District from state-backed Greenland Real Estate, in its first acquisition of a mall in the city, CapitaMalls said Wednesday.

Singapore-based CapitaMalls said it has inked an agreement for Baiyun Greenland Centre in the main commercial area of the district’s Baiyun New Town, a complex that also includes a 200-meter-high office tower.

CapitaMalls CEO Lim Beng Chee said the acquisition is part of...
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