SUBSCRIBERS
Allianz joins Keppel to buy Shanghai's Hongkou SOHO
They are paying US$525m for the office and retail mixed-used development
Published Wed, Aug 23, 2017 · 09:50 PM
Singapore
GERMANY-BASED insurer and asset manager Allianz has partnered Singapore's Keppel Group to acquire an office and retail mixed-used development, Hongkou SOHO in Shanghai, China, for US$525 million.
The deal, undertaken through Allianz Group's US$53 billion real estate investment and asset manager Allianz Real Estate, is part of its strategy to allocate around 5 per cent of its global real estate portfolio to the Asia-Pacific region.
Copyright SPH Media. All rights reserved.
