Spring REIT property, Huamao Place. (Photo: Huamao Group)

Spring REIT has entered into share purchase agreements that will see it acquire a seven-storey shopping mall in Huizhou, Guangdong Province of China, for RMB1,653,466,000 (USD241 million).

The property, Huamao Place, is located a No. 9 Wenchang Road, and features 677 underground, and 44 above-ground car park lots.

It will be Spring REIT’s first investment in a retail property asset in China.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.