City Developments Expands in Shanghai with Major Acquisition

City Developments (SG:C09) has released an update.

City Developments Limited (CDL) has acquired a significant mixed-use development site in Shanghai’s Xintiandi area for RMB 8.94 billion, in partnership with Lianfa Group. This acquisition is part of CDL’s strategy to expand its presence in China, with plans to develop luxury residential apartments, a boutique hotel, and retail spaces. The development is poised to benefit from limited land supply and high demand in the sought-after Huangpu District.

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