SINGAPORE (Aug 19): CapitaLand Retail China Trust Management Limited (CRCTML), the manager of CapitaLand Retail China Trust (CRCT), announced that HSBC Institutional Trust Services (Singapore), the trustee of CRCT, has entered into a sale and purchase agreement to acquire the Galleria, a shopping mall in Chengdu.

Including acquisition-related expenses, the total investment cost for the mall is expected to be RMB1.527 billion ($309 million).

The mall is situated in the Xinnan Tiandi retail precinct of Gaoxin District, a prominent hi-tech zone that has been ranked fourth among 146 national-level hi-tech zones in China.

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