Guangzhou R&F Properties, which is under pressure from municipal authorities for not completing the purchase of a number of sites, says it has sold an office development in Guangzhou for 765 million yuan (HK$867.6 million) or 25,404 yuan per sq m.

The property, Guangzhou R&F Yingyue International Office Tower, will become the headquarters of Shanghai Pudong Development Bank and Infinitus (China). It has a gross floor area of 30,113 square metres, including 28,066 square metres of office space and a retail area of 2,047 square metres.

South China Morning Post