GIC Private Ltd., a Singaporean sovereign wealth fund, has inked an agreement to purchase Taimall Shopping Center in Taoyuan City, Taiwan, for $450 million.
Taimall Shopping Centre has a total gross floor area of about 100,000 square meters, 1.76 million square feet, and has over 300 retail tenants, a theatre, an entertainment center and a small sports complex.
The deal was done by Hong Kongese private equity real estate firm ARCH Capital Management’s arm ARCH Capital Property Advisors on behalf of GIC.
The acquisition is expected to increase Taimall Shopping Center’s price tag.