Property News · March 12, 2017

Shui On in talks to sell half its Ruihong project in Shanghai


Shui On Land, the developer that pioneered China’s heritage landmarks with its Shanghai Xintiandi project, is in talks to sell up to half of the latest development of its Ruihong Xincheng mixed development to pare down its debt.
A memorandum of understanding has been signed with a buyer for 50 per cent of Shui On’s four Ruihong sites for an estimated 8 billion yuan (US$1.16 billion), according to two people familiar with the matter. China Vanke Co., the country’s second-…

Source : South China Morning Post
Read more…Shui On in talks to sell half its Ruihong project in Shanghai

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