CapitaLand in Pact to Manage Alibaba Shanghai Center

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.

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

(END) Dow Jones Newswires

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