Shui On Land said yesterday it had agreed to acquire the remaining 30% in a company that holds the luxury residential development in Shanghai's upmarket Xintiandi area for HK$113.63m.

After the completion of the Globe State purchase, Shui On's ownership in the Lakeville will increase to 99% from 69.3%.

The Lakeville comprises 1,000 square metres of serviced apartments, a hotel and clubhouse and 7,000 sq m of parking and other facilities.

South China Morning Post