CapitaLand Investment divests 95% stake of Grade-A office Capital Square Beijing to AIA Life Insurance and maintain presence in the Chinese market development of Holland Drive Residences.
CapitaLand Investment Limited (CLI) has formed a RMB2.4 billion ($447 million) joint venture with AIA Life Insurance (AIA) to recapitalise Capital Square Beijing, a Grade-A office building in Beijing, according to a Jan 31 announcement.Under this partnership, CLI will divest a 95% stake in Capital Square Beijing to AIA and hold the remaining 5% stake. […]