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Brief: Singaporean real estate giant forges alliance with Alibaba

Jason Leow, CEO of CapitaLand Mall Asia (left) and Alexis Lanternier, CEO of Lazada Singapore. Photo credit: CapitaLand.

The news:

  • Singapore’s CapitaLand, one of Asia’s largest real estate companies, announced a strategic alliance with China’s Alibaba today. The company will manage Alibaba’s new Shanghai headquarters and launch an online mall with the Chinese giant’s Southeast Asian subsidiary Lazada.
  • CapitaLand will open Singapore’s first exclusive “shop within a shop” on Lazada’s online platform. Two unmanned click-and-collect locations will also be set up in the city, where shoppers can collect and return shipments purchased online through Lazada.

Why it matters:

  • Alibaba is Lazada’s biggest shareholder. In January, it was disclosed that Alibaba has invested over US$2 billion into Lazada, rounding up an 83 percent stake in Southeast Asia’s biggest ecommerce site.
  • The Chinese company has sought to further strengthen its foothold in Southeast Asia’s ecommerce landscape, after it participated in a US$1.1 billion funding round for Indonesia’s consumer-to-consumer online marketplace Tokopedia earlier this month. 

This post Brief: Singaporean real estate giant forges alliance with Alibaba appeared first on Tech in Asia.

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