Property News · June 30, 2021

Insurer Ping An to acquire stakes in six Raffles City properties from Singapore’s CapitaLand in deal worth up to US$5.1 billion


Ping An Insurance (Group), China’s largest insurer by market capitalisation, plans to acquire stakes in six Raffles City retail and office developments in China from Singapore’s CapitaLand for up to 33 billion yuan (US$5.1 billion).Ping An Life Insurance Company of China, a unit of Ping An, said it will acquire the stakes in Raffles City Shanghai, Raffles City Beijing, Raffles City Ningbo, Raffles City Chengdu, Raffles City Changning (Shanghai) and Raffles City Hangzhou, according to a filing…

Source : South China Morning Post
Read more…Insurer Ping An to acquire stakes in six Raffles City properties from Singapore’s CapitaLand in deal worth up to US.1 billion