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SOHO China Seals 8th Land Deal In Shanghai
By Cherry Cao |
June 2, 2011, Thursday
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Print Edition
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SOHO China, a Beijing-based real estate developer, yesterday said it has acquired another plot in Shanghai's Hongkou District, the second land purchase deal it has made in the same bustling Sichuan Road N. area in a month.
The 16,426-square-meter site on Hainan Road, designated for offices and retail, was sold for 1.5 billion yuan (US$230.7 million). It was also the eighth purchase made by SOHO China in Shanghai since it tapped the city's commercial real estate market in August 2009.
In late April, the Beijing developer bought a 28,103-square-meter plot for 2.47 billion yuan. That site, also designated for similar purposes, is just one subway stop away from the latest Hainan Road plot.
The 16,426-square-meter site on Hainan Road, designated for offices and retail, was sold for 1.5 billion yuan (US$230.7 million). It was also the eighth purchase made by SOHO China in Shanghai since it tapped the city's commercial real estate market in August 2009.
In late April, the Beijing developer bought a 28,103-square-meter plot for 2.47 billion yuan. That site, also designated for similar purposes, is just one subway stop away from the latest Hainan Road plot.
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