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Keppel Land China acquires commercial property in China's Silicon Valley for $111 mil

timothy.tay@edgeprop.sg

SINGAPORE (Jan 1): Keppel Land China is acquiring a 11-storey commercial property in Zhongguancun, widely known as China's Silicon Valley for an aggregate cash consideration of RMB 555 million ($111 million).

On Dec 31, Keppel Corp announced wholly-owned subsidiary Tosalco has entered into an agreement with A Li Yun Shan (Beijing) Business Consulting Co. to secure a 100% stake in Beijing Chang Sheng Business Consulting Co which owns the property.

Located at the Greater Wuluju Area of Haidian District in Beijing, the property consists of nine storeys of office space with 8,532 sqm of gross floor area, two storeys of retail space with 2,104 sqm of gross floor area and 23 car park lots with 992 sqm of gross floor area.

Read more on The Edge Singapore.

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