Sino Land to buy Raffles City Shanghai stake from GIC, CapitaLand for $252m

Raffles City Shanghai

Hong Kong property and real estate developer Sino Land is paying HK$1.99 billion ($252 million) for a 40.33% stake in Hua Qing Holdings (HQH), which owns CapitaLand’s Raffles City Shanghai mixed-used development.

Raffles City Shanghai is owned by Shanghai HQREM, a locally incorporated company that is 95% held by Singapore-based HQH.

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