India: Phoenix Mills, GIC set up $733m retail and office venture
These assets, of around 3.4 million sq ft of leasable retail and office space, are currently among PML’s prime operational assets.
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These assets, of around 3.4 million sq ft of leasable retail and office space, are currently among PML’s prime operational assets.
The mall is set to attract a growing consumer base in the affluent Alipore, Kolkata, neighborhood.
CPP Investments will pick up will an equity stake of 49% in Mindstone Mall Developers in tranches.
Read more about Phoenix Mills, CPP Investments form JV for Kolkata mall; invest Rs 800 cr on Business Standard. CPP Investments would invest Rs 560 crore (C$93 million) in Mindstone Mall Developers (Mindstone) in tranches, for an equity stake of 49%
Mumbai (Maharashtra) [India], May 29 (ANI): Retail mall developer Phoenix Mills Ltd (PML) and Canada Pension Plan Investment Board have announced execution of definitive documents for a new joint venture to develop a regional retail centre at Alipore in Kolkata.