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 firstname.lastname@example.org
(END) Dow Jones Newswires
August 22, 2017 20:41 ET (00:41 GMT)