Friday, April 27, 2012

CapitaMalls plans $458m Beijing mall

Straits Times: Thu, Apr 26 

CAPITAMALLS Asia (CMA) plans to build a 2.3 billion yuan (S$458 million) mall in southern Beijing, its 57th in the country. 

It aims to buy the building site from a unit of the Poly Real Estate Group - a state-owned firm listed on the Shanghai Stock Exchange, but the acquisition still needs Chinese government approval. 

The seven-storey project, which will have a gross floor area of 122,000 sq m, will be positioned as a mid- to high-end mall and is expected to be built by 2015.

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