CapitaLand's Shanghai office asset 'swap' gets thumbs up from analysts
Property group to buy newly completed Guozheng Center while divesting Innov Tower
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
ANALYSTS on Thursday called CapitaLand's Shanghai office "asset swap" a clever move, as the property group is essentially unlocking value from a mature stabilised asset and simultaneously gaining entry into a newly- completed property of similar quality, but at lower price levels.
CapitaLand on Thursday morning announced that it has agreed to buy Guozheng Center, a newly completed office development in Yangpu District, Shanghai, for 2.64 billion yuan (S$537.8 million).
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
