Premier outlet malls to receive some financing
excited woman shopping in mall

shopper-1024x683.jpg

A US$750 million fund to finance premier outlet malls in China has been set up by asset manager Allianz and realty investor TH Real Estate.

The Eres APAC II – China Outlets fund will be established by the Allianz real-estate investment arm Allianz Real Estate. It aims initially to raise the target commitments ($750 million) to acquire two established outlet malls, Florentia Village Jingjin, between Beijing and Tianjin, and Florentia Village Shanghai.

In fact, say the asset managers, the fund has identified a pipeline of targets.

Allianz will be the anchor investor with a 30 per cent share, the balance to be held by institutional investors like TH Real Estate, which will also act as fund manager. RDM Asia, part of Italy’s Fingen Group, will be asset manager.

It is not the first partnership for Allianz and TH Real Estate, but is their first bid to form an investment fund in China. In 2004, both parties invested in Europe Outlet Mall Fund followed in 2008 by the UK Outlet Mall Fund.

Three months ago Allianz partnered with Singapore’s Keppel Group to buy Hongkou Soho in Shanghai for $525 million.

“China is moving toward an economy led by services and domestic consumption,” says Allianz Real Estate Asia-Pacific CEO Rushabh Desai. “Alongside the traditional brick-and-mortar retail formats, outlet malls have been successful in attracting buyers looking for branded products at discounted prices. We look forward to replicating our European outlet mall performance in China.”


About Retail News Asia

Retail News Asia is committed to providing local and global retailers with the latest news from the Asian retail market on a daily basis.

We have resources for everyone from independently owned business owners to online-only retailers and major chains expanding their reach throughout the Asian market. Retail News is “the news source” with over 50 weekly posts and 13,6 million readers.


CONTACT US

CALL US ANYTIME

Most read



Retail updates

Stay up to date of the lates updates and retail news from Asia.








X