Property News · February 26, 2018

Swire Properties takes stake in venture to gain foothold in Shanghai’s rising commercial district


Swire Properties said on Monday it had agreed to take a 50 per cent stake in a Shanghai joint venture for 1.35 billion yuan (US$214 million), a move that will help it gain a foothold in an up and coming commercial district in Pudong.
The company’s wholly-owned subsidiary Citi-Fame Development signed a deal on Monday with state-owned Shanghai Newbund Industrial Development to take half of the equity interest in Shanghai Qianxiu, a 50-50 joint venture.
Shanghai Qianxiu will develop a retail…

Source : South China Morning Post
Read more…Swire Properties takes stake in venture to gain foothold in Shanghai’s rising commercial district