The Bon Accord Centre in Aberdeen is set to be bought from administrators for around £10m.
The Press and Journal reported that a property company led by Zakir Issa - brother of EG Group bosses Mohsin and Zuber, who own Asda in a joint venture with TDR Capital - is in advanced talks to purchase the mall.
The centre, which was owned and operated by two Guernsey-based companies, Aberdeen Retail 1 and Aberdeen Retail 2, fell into administration last August.