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.

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