US investment giant buys $1.25bn Shanghai office and retail project

By Richard Hook2018-12-21T10:12:00

US investment firm Blackstone has acquired Mapletree Business City Shanghai and the VivoCity Shanghai shopping centre for $1.25bn (£1bn) from Singapore’s Mapletree Investments in one of the biggest-ever deals in Shanghai.

The office and retail complex spans 2.9m sq ft and is located in the southwestern district of Minhang in China’s largest city. Mapletree began development of the ¥5.5bn scheme in 2012 and officially opened the five-storey shopping centre last year. The shopping centre’s fifth floor features an open-air Sky Park.

This content is only available to registered users

You must be logged in to continue

Would you like to read more?

Try Property Week For Free to finish this article.

Unlimited access to Property Week
Breaking news, comment and analysis from industry experts as it happens
Choose from our portfolio of email newsletters

To access this article TRY FOR FREE NOW

Don’t want full access? REGISTER NOW to read this article and up to 3 more this month and subscribe to our newsletters.

Registered users and subscribers SIGN IN here to continue