Rodamco Asia: completion of acquisition of Somerset Grand Shanghai

Rodamco Asia N.V. today announced that it has obtained all the necessary approvals from the Chinese authorities for its acquisition of Somerset Grand Shanghai, a serviced apartment complex in Shanghai, China.

As a result of being granted the necessary regulatory approvals, Rodamco Asia has since completed the purchase of the shares of the company that owned 100% of SGS, being Shanghai Yong Liang Real Estate Development Co., Ltd (ÂSYLÊ).

Ton de Boer, Chief Executive Officer of Rodamco Asia said, „We are pleased that SGS is now officially in our portfolio as it is an important part of our stated near-term plan to be more focused in the Northern part of Asia, namely South Korea and China.‰
For further information, please contact Rodamco Asia N.V.

(source: Rodamco Asia)

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