30 Jul, 2012 -
CapitaMalls Asia Ltd. announced it spent JPY 22.8 billion or about HKD 2.2 billion buying Tokyo-located Olinas Mall as a move to expand its retailer network in Japan. The project has net property yield of more than 6%, a total building area of about 583,000 square Chinese feet and occupancy rate of 100% currently. The listed company also disclosed it will develop the first shopping center at Qingdao Vanke City to integrate business, administration, residential use, culture and ecology, with a total building area of 89,700 square meters and development costs of about CNY 1.79 billion or CNY 19,900 a square meter and expected to be completed in 2015. The listed company will spend a total of HKD 3.99 billion on the two projects.
(Source – “Middle-East/North Africe Financial Network“)