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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.
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SkinLab The Medical Spa Recognised at the 2026 Singapore Retailers Association Awards (SRA) for Excellence in Beauty and Cosmetics
For SkinLab, this reflects two decades of building a holistic beauty ecosystem spanning medical aesthetics, skin health, and wellness, under Dr Kelvin Chua, Senior Medical Director and Founder of SL Aesthetic Group. Treatments are personally developed by Dr Chua to address different skin concerns, such as acne, pigmentation, sensitivity, rosacea, dryness, and ageing. The medical spa also offers a range of skincare products formulated for Singapore’s humid climate and to support long-term skin health.
With 10 outlets islandwide, SkinLab has cared for more than 100,000 customers through this model of doctor-designed care. As no two skin conditions present the same way, each treatment can be customised to individual needs and preferences.
SkinLab has also been recognised by Harper’s BAZAAR, HerWorld, and Singapore Women’s Weekly for treatments targeting deep hydration, rejuvenation, and complexion correction. Behind these treatment outcomes are medical-grade technologies, including the LDM Triple, a triple-frequency ultrasound that targets multiple skin depths simultaneously; FDA-approved Lumenis M22 IPL system for photorejuvenation and pigmentation; Onda Pro with Coolwaves™ technology for body contouring; and the globally-recognised HydraFacial.
The medical spa continuously invests in technology that improves the customer experience, including using AI-assisted skin analysis to support consultations alongside chatbot-based scheduling to reduce waiting time and streamline appointment bookings.
SkinLab’s commitment to holistic care extends beyond treatment sessions, promoting skin health literacy educational content and workshops with doctors from sister brand SL Aesthetic Clinic.
“This award is a valuable milestone that reflects how far SkinLab The Medical Spa has grown as a brand,” says Dr Chua. “From the very start, our brand was designed with the customer at the centre, and that principle continues to guide every treatment developed and every experience delivered moving forward. The brand remains committed to advancing medical-led facial treatments that address a wide range of skin concerns more effectively.”
Looking ahead, SkinLab The Medical Spa remains committed to advancing its medical-led approach to skin health, continuing to explore and adopt clinically validated technologies to deliver more individualised care while reinforcing its commitment to clinical excellence across all its outlets.
To learn more, visit: www.skinlabmedspa.com
Hashtag: #SkinLabTheMedicalSpa #SLAestheticGroup #SingaporeRetailersAssociation
The issuer is solely responsible for the content of this announcement.
About SkinLab The Medical Spa
SkinLab The Medical Spa brings together the attentive, understated service of a world-class spa with medically grounded aesthetic science. As the dedicated medical spa brand of SL Aesthetic Group, SkinLab focuses on non-invasive facial treatments for acne, pigmentation, sensitive skin, and overall skin rejuvenation, delivering evidence-based care that supports long-term skin health.
Founded in the 2000s, SL Aesthetic Group is a healthcare and aesthetics group specialising in skin and hair health, women’s wellness, and holistic medicine. Its portfolio includes SL Aesthetic Clinic, a doctor-led medical aesthetics practice; SkinLab The Medical Spa; TrichoLab, a specialist hair and scalp centre; PROLOGUE, a women’s wellness and lifestyle medical clinic; and Euphie Skin Solutions in Malaysia. Across its network of clinics and outlets, the Group offers a comprehensive range of FDA-approved aesthetic and medical treatments, all supervised by trained and certified healthcare professionals holding Certificates of Competency (COC) recognised by the Aesthetic Practice Oversight Committee (APOC).
SkinLab The Medical Spa operates 10 locations across Singapore, including its flagship medical spa at Wheelock Place, while SL Aesthetic Group has a network of more than 20 clinics and outlets across Singapore and Malaysia.
The launch ceremony was attended by Mr. Do Quang Thai, First Secretary of the Embassy of the Socialist Republic of Vietnam in the Kingdom of Denmark, together with representatives from leading Danish organizations, including 3F, Dansk Erhverv, DPT and Carnegie Investment Bank, alongside strategic partners and industry stakeholders from the transport, technology, energy, finance and infrastructure sectors.
As one of the world’s leading cities in sustainable urban mobility, Copenhagen was chosen as Green SM’s first European market. Here, the company aims to complement the city’s existing transport network by offering another reliable, fully electric mobility option for residents and visitors alike.
In Denmark, the company operates a fully electric fleet of VinFast VF 6 and VF 8 vehicles, serving a wide range of everyday urban travel needs. Unlike many ride-hailing platforms that primarily connect passengers with independent drivers, Green SM directly owns and manages its fleet and oversees driver operations to help ensure consistent service quality and customer experience. During the initial phase of operations, Green SM will focus on establishing a reliable local operation, ensuring full compliance with Danish regulations, and continuously improving its service based on feedback from customers, drivers, and other stakeholders.
Delivering a safe, professional, and consistent customer experience begins with Green SM’s drivers. Before serving customers, every driver completes comprehensive training in road safety, customer service, operating procedures, and electric vehicle operation. Together with ongoing training and a robust local operations system, this helps ensure every journey reflects the high standards Green SM is committed to delivering.
Customers can book rides through the Green SM app, available on the App Store and Google Play. Fares are displayed before each trip is confirmed, and electronic receipts are issued automatically at the end of every journey. To mark its launch in Copenhagen, Green SM is offering new customers five (5) vouchers worth 25% off each trip, up to a maximum discount of 100 DKK per ride throughout the Grand Launch period from July 30 to September 30, 2026.
Richard Nabil Chahine, CEO of Green SM Europe, said: “Cities shape the future of mobility long before companies do. Copenhagen is one of those cities. That is why beginning our European journey here carries special meaning for Green SM. We come with deep respect for the standards already established here, drawing on what we have learned from serving millions of journeys across Asia. Our ambition is simple: to become a trusted mobility partner by delivering safe, professional and fully electric journeys that people can rely on every day. If we earn that trust, growth will naturally follow.”
Green SM’s expansion into Europe reflects the company’s long-term approach to international growth. Rather than prioritising rapid expansion, Green SM focuses on building well-structured local operations, adapting its services to local market needs, and earning trust through consistently reliable service.
With its fully electric fleet and low-emission operating model, Green SM hopes to contribute to Denmark’s long-standing ambitions for more sustainable mobility while providing another practical transport choice for everyday journeys.
Founded in Vietnam in 2023, Green SM currently operates in Vietnam, Laos, Indonesia, the Philippines, India and Kazakhstan. Through its fully electric fleet, technology platform and consistent operating standards, the company is steadily expanding internationally while adapting its services to local market needs.
Hashtag: #GreenSM
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The collaboration marks a significant moment for Taiwan’s international media presence, as the completion of Gaudí’s vision draws global attention to one of the world’s most visited cultural landmarks. NHK has documented the construction of the Sagrada Família for decades, building a relationship of trust with the basilica’s team that enabled joint coverage.
TVBS crews filmed in areas rarely accessible to media, including the crypt where Gaudí is buried, architectural workshops, and key structural sections of the basilica. The team conducted interviews with architects and experts involved in the project during preparations for the inauguration ceremony. Construction on the church began in 1882, one year before Gaudí took over as chief architect.
Taiwanese actress Lin Chi-ling joined the reporting team in Barcelona as a cultural ambassador for the project. Lin met with architects and experts to explore the basilica through the perspectives of architecture, aesthetics, and cultural heritage. Her involvement added a cultural dimension to the coverage beyond conventional architectural reporting.
The coverage brought together partners from Taiwan’s technology and financial sectors. HTC, through its VIVE Arts initiative, contributed its immersive experience “Gaudí, the Atelier of the Divine.” The virtual reality program allows audiences to explore Gaudí’s architectural world in new ways, transcending geographical and physical boundaries.
TS Financial Holding Co., Ltd., which has long supported arts and cultural exchange, sponsored the live broadcast. The company cited values of integrity, innovation, and sustainability in joining the project. The cross-sector collaboration extended Taiwan’s cultural advocacy onto the international stage, connecting the 144-year architectural endeavor to audiences in Taiwan and Chinese-speaking communities worldwide.
TVBS integrated AI-powered real-time translation technology throughout the live coverage, facilitating multilingual communication across international production teams. The project showcased Taiwan’s ability to connect industries and communities across borders. TVBS, NHK, HTC, and TS Financial Holding Co., Ltd., together documented a defining milestone in the Sagrada Família’s history.
Hashtag: #TVBS
The issuer is solely responsible for the content of this announcement.
