Singapore Stock Screener

A blog about investments, financial news, stocks, unit trusts, REITs, bank deposit rates and great investors who live in Singapore like Jim Rogers. Nothing herein constitutes or should be construed to constitute any (i) offer, advice, invitation or solicitation from me to buy or sell any investments, securities or other financial products, (ii) invitation or inducement to engage in investment activities or financial promotions of any kind or (iii) investment advice or recommendation.

Friday, September 30, 2011

CapitaMalls - S$1.28 billion Joint Venture in Suzhou

It has been reported that CapitaMalls Asia will sign a conditional agreement to form a joint venture (JV) to develop a shopping mall and office tower project at an estimate project worth of S$1.28 billion. This will take place in Suzhou in Jiangsu province, China.

According to reports, CapitaMalls Asia will take a 50% stake in the JV and contribute about S$637 million. It will fund this through a combination of debt and equity.

The 310,000 sqm project includes a 250,000 sqm seven-storey shopping mall and two 20 toery office buildings covering 60,000sqm. WIth this development, CapitaMalls Asia will now have 55 shopping malls in 35 cities across China.