SOHO China Limited, represented by Savills Shanghai, has acquired Shanghai New World Changning Commercial Center for US $500 million (approx. 347 million). The deal represents SOHO China's largest acquisition in Shanghai to date and, on completion, the building will be renamed 'SOHO Zhongshan Plaza'.
Albert Lau, Managing Director of Savills China, comments: "As China's economy continues to experience positive growth, domestic and international corporates seek quality office space in Shanghai - its business capital.
"This deal not only represents a large real estate transaction but also a fantastic opportunity for SOHO China to acquire a substantial real estate holding."