Chongqing's West Paradise Walk
The Canada Pension Plan Investment Board's latest investment in a Chinese shopping mall is part of a broader bet on the rising long-term value of property used by the country’s burgeoning middle class.
On October 20, CPPIB said it had bought 49% of a shopping mall joint venture alongside China’s Longfor Properties. It paid C$193 million $146.4 million for the stake.
The mall, West Paradise Walk, is in Chongqing one...