SINGAPORE (Oct 17): CapitaLand is said to be investing about RMB 12.79 billion ($2.54 billion) to acquire the Star Harbour International Center project in Hongkou, Shanghai, according to real estate online portal Mingtiandi.

The group is said to be acquiring its most expensive real estate project yet in China from Shanghai Port Group, after the state-run developer announced on last Friday that it is planning to sell the property.

CapitaLand has yet to make a statement regarding the acquisition.

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