trending Market Intelligence /marketintelligence/en/news-insights/trending/OMgXlN_Ov0rv5wYbzMNpnQ2 content esgSubNav
In This List

Shui On Land completes sale of stake in Shanghai property portfolio

Video

According to Market Intelligence, December 2022

Blog

Insight Weekly: Layoffs swell; energy efficiency PE deals defy downturn; 2023 global risk themes

Blog

Insight Weekly: Energy crisis cripples Europe; i-bank incomes rise; US holiday sales outlook

Blog

Japan M&A By the Numbers: Q3 2022


Shui On Land completes sale of stake in Shanghai property portfolio

Shui On Land Ltd. completed the sale of a 49.5% stake in a portfolio of Shanghai properties to a limited partnership managed by China Life Capital Investment Co. Ltd. on Dec. 27.

The deal, worth nearly 3.87 billion yuan, involved the disposal by Shui On Land subsidiary Hollyfield Holdings Ltd. of a 21.4% stake in Shanghai Rui Hong Xin Cheng Co. Ltd. to the China Life Insurance (Group) Co.-affiliated fund.

The portfolio, which comprises assets and undeveloped land plots in the Rui Hong Xin Cheng project, is now held 49.5% each by Hollyfield Holdings and the China Life fund, with the remaining 1% owned by Shanghai Hongfang (Group) Co. Ltd.

As of Dec. 27, US$1 was equivalent to 6.56 yuan.