CapitaLand divests 3 Japan malls, Korea office asset for $335m

CapitaLand divests 3 Japan malls, Korea office asset for $335m

Photo: Reuters

CapitaLand, among Asia’s largest property players, has divested three Japan shopping malls and a South Korean office property for S$448.7 million ($334.9 million) to unrelated third parties, the Singapore-listed company said Tuesday.

In addition, CapitaLand entered a joint venture with Mitsui & Co. Real Estate to develop and operate a Greater Tokyo logistics project due for completion in the fourth quarter of 2022, the company said in a statement filed to SGX. CapitaLand will take the majority stake in its first investment into Japan’s logistics sector, the statement said.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter