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Shui On sells Shanghai project to China Life for 3.32b yuan

Published Wed, Dec 4, 2013 · 10:00 PM
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[HONG KONG] Shui On Land Ltd, controlled by Hong Kong billionaire Vincent Lo, is selling a project in Shanghai for 3.32 billion yuan (S$683.2 million), the second asset sale by the developer in a week.

Shui On will sell its entire stake in the company that owns the Taipingqiao project in Shanghai's Huangpu district to China Life Insurance Co, the nation's biggest insurer, according to a statement to the Hong Kong stock exchange yesterday. The developer on Nov 29 sold office premises and car park spaces in a projec…

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