SCA Property and GIC formed a $750m joint venture.

SCA Property, a shopping centres Australasia property company, and GIC formed a $750m joint venture. GIC will own 80% of the joint venture, still subject to Foreign Investment Review Board approval. SCA Property will use the money to pay down debt and is looking to buy more assets in Melbourne, Sydney and Brisbane for the new investment vehicle, known as the SCA Metro Convenience Shopping Centre Fund.