US real estate co to develop Chinese malls
28 July 2005
The Simon Property Group, one of the biggest real estate developers in the US, said it has partnered with Morgan Stanley and a state-owned Chinese company to build about a dozen shopping centers in China, state media reported. Simon and Morgan Stanley Real Estate Funds will each take 32.5% stakes in the venture, with SZITIC Commercial Property Ltd holding the remaining 35%. No financial terms were disclosed.
