Taiwan Journal, 3 Oct 2008, Melody Chen
The Government of Singapore Investment Corp. Pte Ltd. (GIC) will complete an acquisition of Taoyuan's largest shopping center, Taimall Family Entertainment Shopping Mall, this month, Taimall's general manager David Kuo confirmed Sept. 18. According to the local media, the US$206 million purchase is so far the largest by a foreign investor on Taiwan's commercial property market this year.
Opened in 1999, Taimall was the first large shopping center in Taoyuan and today is one of the city's most popular. It was launched with a working capital of US$103 million and investments totaling US$230 million. Its major shareholders include the International Engineering and Construction Group, GIC Real Estate Pte Ltd., China Development Industrial Bank, ACHEM Technology Corp. and China Prosperity Development Corp.
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