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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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Published Tue, Feb 14, 2017 · 09:50 PM
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 indirect wholly owned subsidiary of CDL China entering into an equity transfer agreement to acquire the entire equity interest in Shanghai Meidao Investment Co, which owns the commercial development known as Meidao Business Plaza in the Hongqiao central business district.
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