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CapitaLand and CRCT to jointly acquire shopping mall in Guangzhou for $689 mil

Stanislaus Jude Chan
Stanislaus Jude Chan11/28/2017 6:19 PM GMT+08  • 3 min read
CapitaLand and CRCT to jointly acquire shopping mall in Guangzhou for $689 mil
SINGAPORE (Nov 28): CapitaLand Retail China Trust (CRCT) and sponsor CapitaLand have entered into a 51:49 joint venture to acquire a 100% stake in a company that owns the Rock Square shopping mall in Guangzhou’s Haizhu District for RMB 3.36 billion ($68
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SINGAPORE (Nov 28): CapitaLand Retail China Trust (CRCT) and sponsor CapitaLand have entered into a 51:49 joint venture to acquire a 100% stake in a company that owns the Rock Square shopping mall in Guangzhou’s Haizhu District for RMB 3.36 billion ($688.9 million).

This marks CRCT’s first mall and CapitaLand’s second in Guangzhou, the provincial capital of Guangdong Province and one of four first-tier cities in China.

Opened in 2013, the five-storey Rock Square shopping mall has a gross floor area (GFA) excluding car park of about 83,591 sqm as well as a net lettable area (NLA) of 53,107 sqm.

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