TREASURY Holdings’ Chinese offshoot has reached agreement to buy one of Shanghai’s leading shopping malls for just over €63 million.

TREASURY China Trust (TCT) — the Chinese arm of Irish property development company, Treasury Holdings — has successfully raised more than €15 million in a private share placement that will go towards two acquisitions the company has identified.

IRISH property company China Real Estate Opportunities Limited has seen its property holdings in China increase in value to €872.4 million, an increase of €70m in just six months.