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CDL buys Shanghai project for 900m yuan

Acquisition of Meidao Business Plaza swells its China portfolio to 5 properties

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CDL plans to lease the asset, now known as Meidao Business Plaza comprising five office towers and 351 basement car park lots, for long-term recurring income but is open to selling part of the project.

Singapore

BUILDING up its presence in China, Singapore-listed City Developments Limited (CDL) has entered into a deal to acquire an office project in Shanghai's Hongqiao district that is in the final stages of construction for 900 million yuan (S$186 million).

The deal involves an

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