CPPIB's Asia real estate head talks strategy

Jimmy Phua tells FinanceAsia about the fund's latest investment, its reliance on long-term partners and its plans for the coming years.
Chongqing's West Paradise Walk
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 of China’s largest cities with a population of over 30 million. CPPIB, one of the top ten largest retirement funds in the world, sees opportunity in catering to its increasingly wealthy shoppers.


¬ Haymarket Media Limited. All rights reserved.

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222