30 Jul '11, 1am

AsiaClassifiedToday Temasek's Mapletree buys Hong Kong mall for S$2.9b - TODAYonline: China D... #asia #google #biz

SINGAPORE - Investment giant Temasek Holdings has kicked off a shopping spree in Hong Kong with a HK$18.8-billion (S$2.9 billion) purchase of a huge mall in Kowloon. Temasek's wholly-owned unit, Mapletree Investments, will buy the Festival Walk mall from Hong Kong conglomerate Swire Pacific in its biggest purchase that also marks its first commercial property acquisition in the Chinese Special Administrative Region. It is also the third-largest property acquisition deal in the Asia-Pacific so far this year, according to Thomson Reuters data. And more acquisitions can be expected. Mapletree plans to build a portfolio of commercial properties under a Hong Kong-focused fund over the next two to three years. Mapletree chief executive Hiew Yoon Khong said yesterday: "With Festival Walk as a seed project for our HK focused fund, Mapletree will continue to pursue more investment ...

Full article: http://www.todayonline.com/Hotnews/EDC110730-0000049/Tema...

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