Friday, February 24, 2012

Takashimaya to anchor Vietnam mall

Business Times: Fri, Feb 24
TOSHIN Development Co, the real-estate subsidiary of Takashimaya Co, has entered into a share-purchase agreement with Keppel Land to acquire a 22.7 per cent stake in Phase Two of Saigon Centre, in which Takashimaya Singapore is coming onboard as the anchor tenant.

Takashimaya Singapore, a subsidiary of Takashimaya Co, has inked a conditional agreement to pre-commit taking up 15,000 sq m of retail space to open a department store in Phase Two of Saigon Centre, a mixed-used development in Ho Chi Minh City.

Phase Two of Saigon Centre is due to come onstream in 2015.

According to an announcement released to the Singapore Exchange, Toshin acquired a 33.4 per cent stake in Bellenden Investments - which, via Keppel Land Saigon Centre, has a 68 per cent interest in Saigon Centre - for some US$23 million (S$29 million)...

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Team Marshe
Martin Koh/ Sherry Tang
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