Retail in Asia

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CapitaMalls to seek shopping-mall ventures in Vietnam to expand

CapitaMalls Asia Ltd, the retail property unit of Southeast Asia’s biggest developer, may seek shopping-centre ventures in Vietnam after expanding in markets including China and India.

Singapore-based CapitaMalls may collaborate with its parent company CapitaLand Ltd to explore "interesting opportunities" in Vietnam, CEO Lim Beng Chee said. CapitaLand, which is building homes in the nation, said this year it expects properties in Vietnam to make up 10 percent of its assets in three to five years from around 1.5 percent now.

(Source: BusinessWeek)