CPPIB’s Asia property head talks strategy

The Canada Pension Plan Investment Board’s latest investment in a Chinese shopping mall is part of a broader bet on the rising long-term value of property used by the country’s burgeoning middle class. It also reflects the $287 billion fund’s overall growth in real estate exposure. On October 20, CPPIB said it had bought 49% of a shopping mall joint venture alongside China’s Longfor Properties. It paid C$193 million ($146.4 million) for the stake. The mall,, is in Chongqing, one…