Dasin Retail to acquire China’s Doumen Metro mall

Dasin Retail Trust is to buy China’s Doumen Metro mall for US$274.8 million.

Funds for the acquisition will be raised through a mix of debt and equity financing – private placement of new units to get SG$68.8 million, and some SG$210 million in bank borrowings.

Doumen Metro Mall, located on Zhongxing Middle Road, Jingan town in the Doumen district of Zhuhai, Guangdong province, has a gross area of 168,269sqm.

The shopping mall comprises six levels above ground and two levels of car park space. Its land use rights expire in 2052.

Dasin expects to expand its foothold in the Greater Bay area. Zhuhai is across the border from Macau.

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