CapitaLand and GIC Acquired Shanghai's Top Office Building Block

CapitaLand, through Raffles City China Investment Partners III (RCCIP III), has formed a 50:50 joint venture with Singapore’s sovereign wealth fund GIC to acquire Shanghai’s tallest twin towers for an aggregate consideration of RMB12.8 billion (about SGD2.54 billion).

Located at North Bund, the prime asset will become CapitaLand’s third Raffles City integrated development in Shanghai.

-- APMR News