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A healthy committed occupancy of 92% reflects the depth and diversity of China’s retail scene. More than half of the mall’s over 200 brands are either new to China, East China, Shanghai or CapitaLand’s portfolio. Strong shopper traffic of over 300,000 was registered on its opening day, marking an encouraging start to Raffles City The Bund’s retail operations.
The integrated development is located along Huangpu River in Shanghai’s fast-developing North Bund, a commercial and cultural hub with direct access to metro Line 12. Designed by Pelli Clarke Pelli Architects with Benoy, the architecture comprises two 50-storey premium Grade A office towers linked at the base by a six-storey mall (four levels above ground and two basement levels). Lauded as Shanghai’s tallest twin towers with a height of 263 metres, Raffles City The Bund offers stunning 270-degree panoramic views of Shanghai Bund and Lujiazui central business district on both sides of Huangpu River.
Insurer Ping An to acquire stakes in six Raffles City properties from Singapore’s CapitaLand in deal worth up to US$5.1 billion Pearl Liu pearl.liu@scmp.com Raffles City Hangzhou is among the developments in which Ping An plans to acquire a stake. Photo: Handout
Ping An Insurance (Group), China s largest insurer by market capitalisation, plans to acquire stakes in six Raffles City retail and office developments in China from Singapore s CapitaLand for up to 33 billion yuan (US$5.1 billion).
Ping An Life Insurance Company of China, a unit of Ping An, said it will acquire the stakes in Raffles City Shanghai, Raffles City Beijing, Raffles City Ningbo, Raffles City Chengdu, Raffles City Changning (Shanghai) and Raffles City Hangzhou, according to a filing with Insurance Association of China late on Monday. It will buy 60 per cent to 70 per cent stakes in the six companies owning the six properties, which are worth a total of 46.7 billion yuan.
CapitaLand Signs Deal to Sell Partial Stakes in 6 China Raffles City Developments to Ping An Life swfinstitute.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from swfinstitute.org Daily Mail and Mail on Sunday newspapers.