SINGAPORE (Feb 14): CDL China, a wholly-owned subsidiary of City Developments Limited (CDL), is acquiring a prime Shanghai commercial project, Meidao Business Plaza for RMB 900 million ($186 million) through the purchase of a 100% equity stake in Shanghai Meidao Investment Co.

Shanghai Meidao owns Meidao Business Plaza, a commercial development within the Hongqiao central business district (CBD) with a total gross floor area (GFA) of approximate 32,300 sq m.

The development comprises five nine-storey office towers, in addition to two levels of basement carparks with about 351 lots in total.  Each of the five office towers will also feature a sky garden atop their roofs.

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