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.
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.
