QIC Global Real Estate takes 49pc JV stake in eight US malls THE real estate arm of the state government-backed Queensland Investment Corporation (QIC) has expanded into the US, buying a $435.6 million joint-venture stake in a $2.05 billion shopping centre portfolio. QIC Global Real Estate will purchase a 49 per cent equity interest in a portfolio of eight US regional shopping malls from the New York-listed Forest City Enterprises.