Retail in Asia

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Redevco to invest up to USD293m in China projects

Dutch real estate development and investment firm Redevco has its sights on Chinese property projects worth as much as CNY2 billion (USD292.9 million) as part of an aggressive expansion drive in Asia.

Managing director Robert Lie said that over the next five years he expected Asia would account for 20-25 percent of the group’s property portfolio.

Redevco is interested in acquiring shopping centres ranging from 50,000 to 120,000 square metres in size worth around CNY1-2 billion each, said Lie.

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