By Gaurav Raghuvanshi
SINGAPORE--CapitaLand Retail China Trust (AU8U.SG) Friday said it has signed a "bundle" deal to buy one mall in China's Inner Mongolia region, and sell another one to optimize its portfolio.
CapitaLand Retail will buy a mall property in Hohhot, the capital of Inner Mongolia for 808.3 million Chinese yuan (US$120 million) and sell an existing property in the same city for CNY460 million. The REIT's new mall will open in the second half of next year, after which it will hand over CapitaMall Saihan to its new owners.
The deal will allow CapitaLand Retail to get a new mall that is nearly double in size than its existing property, it said.
Write to Gaurav Raghuvanshi at firstname.lastname@example.org