Arch Capital leads Taiwanese shopping mall acquisition

Arch Capital Property Advisors has bought a Taiwanese shopping mall for US$450 million on behalf of Singapore sovereign wealth fund GIC.

The deal marks the Hong Kong-based company’s first foray into Taiwan’s retail property business.

After settlement, Arch Capital will assume management of the property.

Taimall Shopping Center in Taoyuan was acquired on behalf of GIC, which has partnered with Taiwanese investment trust Millerful REIT.

The 100,000sqm mall is Taoyuan’s largest, home to more than 300 retail stores, a cinema and sports complex.

Arch Capital Property MD James Chou told Mingtiandi that his company saw “a rare opportunity to acquire an established premium retail asset offering stable income and sustained revenue growth potential over the longer term” in the Taiwan deal.

Taiwan-listed Millerful largely focuses on the commercial sector, and reportedly has plans to buy more shopping centres, hotels and office buildings.


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