Canada Pension Plan Investment Board (CPPIB) and Longfor Properties Co. Ltd. have entered into a second joint venture to invest in Chongqing West Paradise Walk shopping center in China.
As part of the joint venture, CPPIB will commit approximately C$193 million (US$146 million) for a 49% interest in the property.
Representing CPPIB's first retail mall investment in Chongqing, one of China's largest cities with a population of over 30 million, West Paradise Walk is a six-level shopping mall built in 2008.
CPPIB and Longfor established its first joint venture in 2014 with a mixed-use real estate project in Suzhou, which included the development of a Paradise Walk mall.
"We are pleased to extend our existing relationship with Longfor Properties through this joint venture in West Paradise Walk," says Jimmy Phua, head of Real Estat...
This news article comes via , who is the copyright owner of this information and news. FintekAsia.com has licensed the rights to this article and any republication or re-distribution in whole or in part of this content is strictly prohibited without the express consent of China Money Network
