Media OutReach
Gaw Capital Partners Completed the Acquisition of Florentia Village Chengdu
Located in Chengdu, a key gateway city in Western China, Florentia Village Chengdu, is one of the largest outlet malls in the region. Opened in 2017, the outlet mall has shown strong resilience through market cycles. Its Phase III expansion, completed in June 2024, has brought the mall’s total retail area to approximately 75,000 sqm, making it the largest outlet within the Florentia Village network.
As Southwest China’s first luxury designer outlet, Florentia Village Chengdu features a wide range of international luxury and designer brands, blending distinctive Italian-inspired architecture with a modern retail experience. The recent expansion further enriches its brand portfolio and enhances its position as a leading lifestyle destination in the region. RDM, the real estate arm of Italy-based Fingen Group and a well-established and experienced luxury retail outlet operator, will continue to serve as the asset manager post-acquisition, ensuring operational continuity and platform growth.
Kenneth Gaw, President and Managing Principal of Gaw Capital Partners, said, “Outlet malls have been a highly successful investment strategy for us, and this acquisition represents the recapitalization of an asset from our long-standing joint venture platform, which we established with our partners in 2012. The rapid expansion of China’s middle class and their spending power has been extraordinary, especially as seen in the retail and tourism sectors. We are very pleased to have completed the acquisition of Florentia Village Chengdu with our new domestic Chinese partners on this transaction.”
Humbert Pang, Managing Principal, Head of China and Co-chair of Alternative Investments at Gaw Capital Partners, added, “We remain confident in China’s outlet mall sector, which continues to benefit from the rise of the middle class and the increasing appetite for affordable luxury. Florentia Village Chengdu is well positioned to capture this structural demand. This investment also marks another important step in our continued exploration of RMB-denominated opportunities, as we expand our onshore platform to align with the diversified demand of domestic investors and partners.”
Imelda Tham, Managing Director – Investments at Gaw Capital, commented, “Gaw Capital Partners remains committed to identifying opportunities with solid growth potential in China. The acquisition of Florentia Village Chengdu underscores our unwavering dedication to investing in assets that offer substantial long-term value. This premium outlet mall, located in the vibrant city of Chengdu, serves as a prime example of our strategic approach to capitalizing on the growth of China’s retail sector.”
She added, “Moreover, our extensive network allows us to bring together high-quality investors with aligned mindsets, crucial to the success of this transaction. Our collaborative approach and strong industry connections have been instrumental in executing this acquisition. By leveraging our experience and fostering meaningful partnerships, we continue to drive growth and provide exceptional value to our investors.”
China’s 470 million middle- and high-income consumers—with strong purchasing power and rising brand awareness—continue to drive the growth of the outlet retail sector. Outlet malls, offering “big brand discounts” and “premium affordability,” have proven particularly resilient amid the current macroeconomic environment, catering to value-conscious spending trends while maintaining stable performance in growth cycles. According to JLL, China’s outlet market reached RMB 230 billion in 2023[1] and is projected to expand to RMB 640 billion by 2030, underscoring the sector’s strong long-term growth potential.
Gaw Capital Partners has been actively investing in the outlet mall sector for over a decade. As early as 2012, the firm established a joint venture platform to develop and operate luxury retail outlet malls in China, followed by the launch of its China Outlet Mall Fund in 2017. In 2023, through a fund under its management and with co-investment from its LPs, Gaw Capital acquired Florentia Village Guangzhou Outlet Mall in Guangzhou, with a total gross leasable area of approximately 62,200 sqm.
Retail outlets reflect changing consumer habits – Chinadaily.com.cn
Hashtag: #GawCapitalPartners
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About Gaw Capital Partners
Based in Asia, Gaw Capital Partners is a multi-asset investment management firm focusing on real estate, growth equity, private credit and infrastructure markets globally.
Since its inception in 2005, the firm has raised seven commingled funds targeting Asia Pacific, alongside value-add /opportunistic funds in the U.S., a Pan-Asia Hospitality Fund, a European Hospitality Fund, a Growth Equity Fund and a Credit Fund. It also manages credit strategies and separate account direct investments globally.
Gaw Capital has consistently generated high yields by revitalizing underperforming assets, enhancing value through creative financing solutions and leveraging deep expertise in capital allocation.
Since 2005, the firm has managed US$35.8 billion in assets and raised US$24.4 billion in equity as of Q2 2025.
Airalo and Compax have extended their partnership for another five years, ensuring Airalo continues to run on the powerful Compax backend platform. This technology allows Airalo to quickly launch and manage data plans across more than 200 destinations. By using the Compax real-time charging system, Airalo can accurately track data usage and set custom pricing independently, without having to rely on the technical systems of local phone carriers. This total control ensures that Airalo can offer its 20 million users the most flexible and competitive travel eSIM rates on the market.
Compax is proud to support Airalo as it continues to launch new products and services, ensuring its 20M+ customers can stay connected seamlessly across more than 200 destinations, regardless of their travel plans.
“At Airalo, our goal is to provide our customers with reliable connectivity and a seamless experience. Extending our partnership with Compax MVNE for another five years ensures we have the technical foundation to keep that promise,” explained Peter Nussbaumer, VP of Networks at Airalo. “Compax MVNE’s platform gives us the independence to launch new products and manage complex global data plans in real-time, allowing us to stay agile and focus on what matters most: keeping our 20 million users connected, no matter where their journey takes them.”
“The Airalo team set out to transform the way travelers enjoy connectivity abroad forever and they are not falling short on their goal. It’s an absolute pleasure for us to be a part of their journey and assist them on their mission. Connectivity is at the heart of everything we do in our modern ways of life and the Airalo offering is perfectly tuned to that beat.” said Werner Kohl, CEO of Compax.
Hashtag: #CompaxMVNE
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About Compax
Compax is a leading BSS/OSS software provider for the telecommunications industry. Its business software suite covers the full spectrum required to cover areas such as DSL, FTTH, MVNO and related industries: Apps and portals for customer orders and selfcare, convergent product catalog, CPQ, order management, CRM, contact center, billing, accounting, payments, online charging, and retail management. Compax enables operators to bring new services, offers, and brands to market with a quick turnaround and covering B2B, B2C, and B2B2X scenarios. Relying on proven agile methodology, Compax successfully serves top brands around the globe.
About Airalo
Airalo, founded in 2019, is the world’s largest travel eSIM platform. Trusted by over 20 million travelers, Airalo offers eSIM packages in 200+ destinations, empowering users to connect to mobile networks worldwide instantly. With a remote team of over 300 people, spanning more than 50 countries, Airalo is committed to making mobile connectivity on the move easier, more affordable, and accessible to all.
Over 120 event days in first year of operation
HONG KONG SAR – Media OutReach Newswire – 2 March 2026 – Hong Kong’s Kai Tak Sports Park (KTSP) celebrated its milestone first anniversary on Sunday (1 March), successfully hosting nearly 50 major events and delivering over 120 international and local sports and entertainment days since its grand opening.
KTSP has established a unique identity as the city’s new “Home Venue” for major sports and entertainment events. Highlights have included the Hong Kong Sevens (rugby), the Hong Kong Football Festival featuring top teams such as Liverpool, AC Milan, Arsenal and Tottenham Hotspur, as well as concerts by British rock band Coldplay, Mandopop rock band Mayday, singer Jay Chou and global pop icons BLACKPINK.
Sports activities at the Park have welcomed more than 840,000 participants so far. In terms of sports activities, the three major facilities—Kai Tak Stadium, Kai Tak Arena and Kai Tak Youth Sports Ground—together with the bowling centre, outdoor sports facilities and open spaces in the precinct, are expected to surpass 200 event days from the Park’s opening through to the end of March 2026.
In the past year, the utilisation rates of the Kai Tak Stadium and Kai Tak Arena have reached close to 90%. Kai Tak Stadium has already attracted over 1.8 million attendees, rapidly becoming a powerful new driving force in advancing Hong Kong’s sports industry, events economy, and tourism development.
“Our first anniversary is not only a major milestone for Kai Tak Sports Park, but also a moment of pride for Hong Kong. Over the past year, we witnessed athletes’ determination, outstanding performances from artists, and the unforgettable energy of cheering audiences. Each event has touched and inspired us.
“As Hong Kong’s largest integrated sports, leisure and entertainment landmark, we are committed to bringing the community together while strengthening Hong Kong’s connection with the Greater Bay Area and the international stage,” said a spokesperson for KTSP.
The centerpiece 50,000-seat Kai Tak Stadium was ranked third in the world and top in Asia for total ticket sales in 2025 just nine months after its debut, according to Pollstar’s 2025 year-end stadium charts (published mid-December 2025). Pollstar also ranked Kai Tak Stadium No.5 worldwide and No.1 in Asia for total gross revenue (1.25 million passes worth US$191.34 million). Meanwhile, the 10,000-seat Kai Tak Arena, was ranked Asia’s No. 8 in terms of total gross revenue.
“Seeing the Park evolve over the past year into a major sports destination for Hong Kong has been incredibly inspiring,” said Hong Kong, China karatedo team former representative, Lee Chun Ho. “Every time I walk in, I can feel the energy. The professional facilities not only support large-scale events but also make it easier for the public to access different sports, whether they’re beginners or experienced enthusiasts.”
With an expanding line‑up of exciting events, enhanced visitor experiences and an increasingly compelling programme of global attractions, KTSP will further advance the integration of culture, sports and tourism, ushering in an even brighter and more vibrant chapter for Hong Kong.
Hashtag: #HongKong #BrandHongKong #KTSP #Sports #Entertainment #Landmark #MegaEvents
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Award recipients are evaluated entirely based on independent performance data, including key indicators such as downloads, monthly active users (MAU), growth rates, in-app purchase revenue, and user engagement. These metrics reflect sustained operational effectiveness and performance over time. Green SM’s recognition not only marks a breakthrough for the brand but also demonstrates consistent growth and sufficient operational stability to be recognized at a regional level.
According to the published results, Green SM achieved 114.4% year-on-year MAU growth in 2025 and ranked No. 1 in downloads among EV-focused carpooling platforms in the region. This performance reflects steady expansion across the company’s operating markets, including Vietnam, Laos, Indonesia, and the Philippines.
Behind these growth figures lies a systematically built operational foundation. Green SM maintains that growth is only sustainable when accompanied by the ability to deliver consistent service quality across all operating markets. Scaling its electric fleet while ensuring a uniform and reliable user experience has remained a central priority throughout the company’s development.
This operational stability benefits both sides of the platform. Passengers experience transparent, dependable services, while the Green Driver community operates within a clearly structured, long-term-oriented work environment. For Green SM, growth and quality control are pursued in parallel as two core pillars of sustainable development.
Mr. Nguyen Van Thanh – Global CEO of Green SM stated: “Recognition through an independent data evaluation system affirms that the fully electric mobility model we are pursuing is on the right track. More important than growth speed is the trust we earn from users in every market where we operate. That trust motivates us to continuously refine our fully electric mobility model, ensuring stable operations, structured technology deployment, and sustainable long-term development.”
In the context of an increasingly competitive mobile application landscape, recognition grounded in independent performance data demonstrates that Green SM’s growth is built on a structured, scalable operational platform. The ability of an electric mobility model to achieve strong regional growth while maintaining consistent service quality confirms that this is no longer an experimental alternative, but a practical direction for modern urban transportation.
Previously, Green SM was also honored at the VnExpress Tech Awards 2025 with the titles “Outstanding Ride-Hailing App” and “Vietnamese Tech Brand of the Year,” and received the “CXP Best Customer Experience Award,” which recognized its implementation capabilities and consistent operational standards across the system.
Hashtag: #GreenSM
The issuer is solely responsible for the content of this announcement.
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