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PRADERA RETAIL ASIA APPOINTED ASSET MANAGER FOR A FOURTH SHOPPING CENTRE IN CHINA

Pradera Retail Asia has been appointed asset manager of Mosaic Chongqing Metro Park, a 100,000 sqm shopping centre in the urban city of over 18 million people in Southwest China, further bolstering Pradera Retail Asia expansion in the region.

The deal represents the latest success for Pradera Retail Asia, the 50:50 joint venture established in September 2016 with Macquarie Retail Real Estate Management Limited – a subsidiary of Macquarie Infrastructure and Real Assets (Hong Kong) Ltd (MIRA) – to provide asset management services in Asia.

The addition of Mosaic Chongqing Metro Park brings the total number of retail properties managed by Pradera Retail Asia in China to four. They comprise a total gross leasable area (GLA) of 200,000 sqm, over 400 tenants and located in Qingdao, Xi’an, Shanghai and Chongqing.

Arranged over eight floors, Mosaic Chongqing Metro Park encompasses 130 retailer tenants and an extensive food and beverage offering strategically selected to attract families and millennials. Major occupiers include New Century Department Store, Stellar IMAX, H&M and C&A. It also features an Olympic-sized ice skating rink. The shopping centre is located in the heart of a mature middle class residential catchment and is close to three universities with 60,000 students and a raft of office buildings, housing businesses with approximately 10,000 employees.

Pradera is targeting continued expansion in Asia as part of wider plans for international growth. Focusing on unlocking potential to deliver better returns across all asset classes for its investors and retailers, the company is taking its specialist retail fund and asset management expertise into new geographies.

The four Mosaic retail properties now managed by Pradera Retail Asia in China are owned by MIRA-managed companies. MIRA continues to be the portfolio manager and provides strategic asset management to all MIRA-managed assets.

Pradera News

Pradera appoints Civil Engineer to the role of Technical Asset Manager

Barbara Armanelli joins Pradera Italy

Read whole story

Pradera agrees lease renewal with French retailer for a further 12 years

Truffaut extends lease at Les Armoiries Shopping Centre, Bry-sur-Marne, for 12 years.

Read whole story

A new fashion retailer for Istanbul Cevahir

ltınyıldız Classics starts trading at Istanbul Cevahir

Read whole story

Domoteka releases additional dates for “Domodesign” due to popular demand

Interior design-focussed webinars and workshops are back at Domoteka

Read whole story

Homepark Janki welcomes four new tenants in February 2021

Bike Moto, DEKO Meble, Bafra Kebab and Ramen Duck open at Homepark Janki

Read whole story

A bathroom specialist for Homepark Franowo, Poznań, Poland

Jeta starts trading at Homepark Franowo

Read whole story

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Background Photo:
Ragusa: Ibleo Shopping Centre