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Sovereign Wealth Funds Briefing - Categorized | Alternative Investments

Temasek-owned Mapletree to buy Swire Pacific mall for USD2.4 bln

Posted on 01 August 2011

Temasek Holdings’ property firm Mapletree Investments is acquiring Hong Kong shopping complex Festival Walk in a deal worth HKD18.8 billion (USD 2.4 billion). According to a statement made to the Hong Kong Stock Exchange, Mapletree has already paid a deposit of HKD1.8 billion (USD230.97 million), and the sale will be finalized on August 18.
The 1.2 million square foot seven-storey mall has a book value of HKD17.2 billion as of December 2010, representing a profit of HKD1.6 billion from the deal. The fully- occupied complex also houses top-tier office spaces……………………………………….Full Article: Source


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