CapitaLand in Pact to Manage Alibaba Shanghai Center

By Gaurav Raghuvanshi Features Dow Jones Newswires

CapitaLand Ltd. (C31.SG) Wednesday said it has signed a deal with Alibaba Group Holding Ltd. (BABA) to manage the online retailer's new Shanghai headquarters.

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The Alibaba Shanghai Center comprises four office towers and a retail podium, CapitaLand said in a statement, without disclosing the commercial terms of the agreement.

Separately, the Singapore developer has signed a pact with local retailer Lazada Group to launch an online mall on the e-commerce firm's platform.

The deal allows CapitaLand to connect retailers with shoppers both online and offline, the company said in a statement.

The deals with the e-commerce firms are expected to help "reinvent" modern retail and grow by blending physical and digital retail channels, CapitaLand said.

Write to Gaurav Raghuvanshi at gaurav.raghuvanshi@wsj.com

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(END) Dow Jones Newswires

August 22, 2017 20:41 ET (00:41 GMT)