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Publish Date : 31-Jul-2012

CapitaMalls Asia Ltd has announced that it has acquired Olinas Mall in Tokyo for 22.8 billion yen (S$367.3 million) from Invesco Global Real Estate Asia Pacific.

It also said that it is now developing its first shopping mall in Qingdao, China, after having inked the deal to acquire the site from Qingdao Vanke City Real Estate Co Ltd and Qingdao Shuangshan Gongmao Co Ltd.

Olinas Mall, completed in 2006, is one of the biggest malls in Kinshicho in the Sumida Ward of Tokyo, with a total gross floor area of about 583,000 square feet.

It is part of a large integrated development and is connected to a residential tower and an office tower. The mult-tenanted development is currently at 100 per cent occupancy.

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