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CapitaLand JV buys 70% stake in Shanghai building for 2.75b yuan

Pufa Tower will be seed asset for new value-add fund

Pufa Tower is CapitaLand's first office property in Shanghai's core central business district (CBD) of Lujiazui in Pudong New Area.


CAPITALAND has teamed up with an unrelated third party to acquire a prime office building in Shanghai as a seed asset for a value-add fund which it is setting up "to invest in commercial real estate in key gateway cities in Asia".

The acquisition will immediately...

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