, China

HK-listed Link REIT buys Guangzhou mall for $501m

With a gross retail area of 90,113 sqm, it is considered the biggest mall in its district.

Hong Kong-listed Link Real Estate Investment Trust (Link REIT) is acquiring a 100% interest in Happy Valley Shopping Mall in Guangzhou, China and its related loans for a total of $500.84m (RMB3.2b), the company announced in a media release.

Located at eastern part of Zhujiang New Town in Tianhe District, the property is an 8-storey commercial development with 4-storey basement, providing a total gross retail area of about 90,113 sqm, and a car park with 800 parking spaces.

The company noted that it is the only sizable mall in the district, which is in proximity to the Huangpu Avenue, a key arterial road in Guangzhou, with two future metro stations on metro line 13 which is expected to be operational by 2022 or 2023.

Business of the Happy Valley Shopping Mall saw occupancy of around 70.3% as of 24 May. There will be large rental uplift potential from re-positioning the mall as an integrated leisure and shopping destination for affluent modern families through trade mix upgrade and customisation of service offerings, the company said.

Link will fund the investment with its internal resources and facilities with the intention to hedge the majority part of currency exchange volatility. The completion of the transaction is expected to be in June.
 

Follow the link for more news on

Join Retail Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Asia Pacific’s retail sales to grow 24% by 2028
The Shopper Reinvented megatrend will increase at a CAGR of 11%. 
Coca-Cola Q3 2024 ads focus on cultural moments to boost consumer engagement
It included campaigns that tied into global cultural moments, such as K-pop, Chinese New Year, and Nepal’s Dashain festival.
CDFG and IPPG partner to boost tourism and retail sectors
It is also set to strengthen economic and trade ties between China and Vietnam.
Jollibee Group takes full ownership of Tim Ho Wan
JWPL, which already held a 92% stake in Tim Ho Wan, will pay $14.8m to acquire the final 8% interest.
Stores

Exclusives

Deliveroo Shopping for nonfood items launched in Singapore
Shoppers may now access beauty and pet care, and consumer electronics on the delivery app.
E-commerce
MR.DIY expands to Indonesian suburbs in search of growth
The company has grown to more than 850 branches in just seven years.
Southeast Asian retailers go live to take orders
Social media are no longer just spaces for sharing selfies; they’ve become shopping hubs.
E-commerce