Eric Goh, CEO (China) of Keppel Capital, says, “The proposed acquisition is in line with Keppel Capital’s investment strategy of creating value and driving returns for our investors. Yi Fang Tower is a quality asset that is well-connected to Shanghai’s core central business districts and is expected to meet growing demand from quality tenants in the professional services and financial sectors. This partnership with the co-investors is also testament to the confidence that they have in Keppel Capital in delivering good returns.”
SINGAPORE (Mar 26): Keppel Corporation is jointly acquiring Yi Fang Tower in Shanghai for a consideration of RMB 4.6 billion ($926 million).
The Yi Fang Tower is a recently completed prime Grade A office and retail mixed-use development located in North Bund. It is made up of two 18-storey office towers and a retail podium, with a total gross lettable area of about 74,400 sqm.
