China Real Estate Opportunities (CREO) is acquiring the Xidan Centrepoint Shopping Centre development in Beijing for £243.1 mln (EUR 362 mln). Xidan Centrepoint, one of the largest western-style malls in China, is being sold by China Metallurgical Construction Group. When completed in late 2007, the mall will consist of 102,000 m[sup]2[/sup] of retail space, 170,000 m[sup]2[/sup] of office space and a 372-bedroom high-class hotel.
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