CapitaLand to buy commercial site next to recently-acquired Innov Center in Shanghai for $171 mil

Samantha Chiew
Samantha Chiew12/19/2017 06:47 PM GMT+08  • 2 min read
CapitaLand to buy commercial site next to recently-acquired Innov Center in Shanghai for $171 mil
SINGAPORE (Dec 19): CapitaLand announced that its wholly-owned business unit, CapitaLand China, is acquiring Shanghai Mingchang Properties (SHMC) for RMB838 million ($171 million).
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SINGAPORE (Dec 19): CapitaLand announced that its wholly-owned business unit, CapitaLand China, is acquiring Shanghai Mingchang Properties (SHMC) for RMB838 million ($171 million).

SHMC owns a commercial site in Wujiaochang decentralised business district (DBD) in Shanghai, China. The site is located next to CapitaLand's Innov Center, which was acquired in June.

This is the group’s second investment in Shanghai’s office market in six months, and rides on the strong leasing momentum of Innov Center.

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