Soho China To Purchase Shanghai Commercial Site For $632M

Soho China Ltd

announced its plans to buy a Shanghai commercial site from subsidiaries of Greentown China Holdings Ltd. and Shanghai Zendai Property Ltd for CNY4 billion ($632 million). In a separate statement, Soho China said that it will pay CNY2.96 billion to Shanghai Zendai Ltd and CNY1.04 billion to Greentown China Holdings Ltd for the jointly owned plot.