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Mapletree breaks ground on US$796m Minhang project
By Cherry Cao |
March 18, 2013, Monday
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Online Edition
Online Edition
MAPLETREE Investments Pte Ltd, an Asia-focused real estate investment and capital management company, launched a 5 billion yuan (US$796 million) mixed-use project in Shanghai's Minhang District as the company further expands its presence in its second-largest overseas market.
The largest single investment to date by Mapletree in China, the three-phase, 300,000-square-meter landmark project in Xinzhuang, will consist of Mapletree Business City, a 200,000-square-meter Grade A office complex, and VivoCity, a shopping and lifestyle destination mall.
Jointly developed by Mapletree and Mapletree India China Fund, the Minhang project's first phase will be completed in 2015, CEO Hiew Yoon Khong said at a groundbreaking ceremony this morning.
The largest single investment to date by Mapletree in China, the three-phase, 300,000-square-meter landmark project in Xinzhuang, will consist of Mapletree Business City, a 200,000-square-meter Grade A office complex, and VivoCity, a shopping and lifestyle destination mall.
Jointly developed by Mapletree and Mapletree India China Fund, the Minhang project's first phase will be completed in 2015, CEO Hiew Yoon Khong said at a groundbreaking ceremony this morning.
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