Keppel sells Shanghai mall stake for S$73m profit
Sale is in line with its property arm's strategy to continually recycle assets for higher returns
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Singapore
PROPERTY and rigbuilding group Keppel Corporation has sold its stake in a Shanghai mixed-use development that will reap its subsidiary Keppel Land a S$73 million profit.
The mall, Life Hub @ Jinqiao, is located in Shanghai's Pudong district. Completed in end-2009, it has 114,730 square metres of gross floor area of retail shops over 10 low-rise buildings. The development also includes a 10-storey office tower with a retail podium.
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