The Canada Pension Plan Investment Board has acquired a 40 percent minority interest in a shopping mall in Dalian, China, from Malaysian developer Pavilion Group for C$162 million ($121 million).
Pavilion Dalian is CPPIB’s first retail mall investment in Dalian, a major economic hub in northeast China. It is located in the heart of Dalian in the downtown Qingniwa area. The mall opened in April 2015.
In August 2015, CPPIB and Pavilion formed a joint venture to invest in Pavilion Damansara Heights, a mixed-use development project in an affluent neighborhood in Kuala Lumpur, Malaysia.
Recently, CPPIB invested $375 million in Raffles City China Investment Partners III, Singapore-based CapitaLand’s third integrated development private investment vehicle in C
