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Shui On sells Shanghai Four Seasons assets for US$102 million

04/29/2015| 6:48:14 PM| ChinaTravelNews 中文

SOCAM Development of the Shui On Group sold 131 units with parking of the Shanghai Pudong Four Seasons Hotel and Four Seasons Apartments.

SOCAM Development of the Shui On Group sold 131 units with parking of the Shanghai Pudong Four Seasons Hotel and Four Seasons Apartments as part of a RMB632 million(approx:US$102 million)transaction.

SOCAM Development owns 70%, of  the seller in this transaction- Yiqi Investment. Yongda Development as the buyer will buy RMB568 million(approx:US$91.7 million)in Lead Wealthy Singapore shares and RMB64 million (approx:US$10.3 million)worth of Yicheng shares.

Lead Wealthy Singapore was registered in Singapore in 2005, its main asset is the wholly-owned 21 Century Projects, which fully owns the 21 Century Center in Shanghai’s Pudong District.
21 Century Projects holds 131 units including parking (13,673 square meters in total floor space) in Shanghai Pudong Four Seasons Hotel and Four Seasons Apartments.

Yicheng was registered in the British Virgin Islands in 2011, it main asset is its wholly owned 21 Century Hotel Company which incorporated as a wholly-owned foreign enterprise in China. (Translation by David)

TAGS: Four Seasons | Shui On Group | Shanghai
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