GIC, ING Real Estate to acquire shopping centre in Italy

GIC Real Estate has teamed up with ING Real Estate to acquire the new Roma Est Shopping Centre in Italy.

The partners will pay Italian food-retailing leader Gruppo 400 million euros (S$832 million) for the deal.

ING Real Estate and GIC Real Estate will have equal stakes in the property.

Roma Est Shopping Centre comprises about 93,000 square metres of gross lettable area.
It is made up of a mall of 208 units, a hypermarket and a 12-screen cinema. – CNA/so

Source : Channel NewsAsia – 5 Feb 2008

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