Keppel unit buys Shanghai commercial property for 493m yuan

Upon acquisition, it will undergo upgrading works to meet new market needs


KEPPEL Corp said on Friday that its subsidiary, Keppel Land China, has acquired a commercial property in Shanghai's Pudong New District in China for 493 million yuan (S$95.5 million). Zhangjiang Micro-electronic Port Block #3 is a four-storey development with a gross floor area of about 14,518 square metres.

Upon completion of the acquisition, expected by the fourth quarter of this year, the vacated property will undergo enhancing and upgrading works to meet new market needs, Keppel Corp...

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