Shanghai Plaza, Shanghai

In May 2018, the Group invested in a 35% equity interest in a joint venture to acquire a 90% stake of a mixed-use commercial building, Shanghai Plaza, Shanghai, PRC, for a total investment value of RMB 2,907 million (approximately S$613 million), together with other joint venture partners. Shanghai Plaza, a landmark 7-storey mixed-use commercial building, is located at the prime Huai Hai Zhong Road, Huang Pu district, Shanghai, PRC, which is one of the most densely populated urban district in the PRC. The property is also close to the popular shopping district area near Xintiandi District and People’s Square, with connectivity to major train lines and expressways. This property will be undergoing asset enhancement in 2019.