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Keppel Land China has entered into a deal with its property fund management arm Alpha Investment Partners (Alpha) to acquire Lifehub @ Jinqiao (pictured), a mixed-use development in the Pudong district of Shanghai, China.
“This is the first time that Keppel Land China and Alpha are collaborating to acquire a premium property in a well-located area in Shanghai. This is also in line with our strategy to scale up in high‐growth cities such as Shanghai where Keppel Land China has established a firm foothold,” said Ang Wee Gee, Chief Executive of Keppel Land.
Lifehub @ Jinqiao comprises 10 low-rise retail buildings and a 10-storey office tower on top of a three-storey retail podium. It has a gross floor area (GFA) of 98,630 sq m for retail use and 16,102 sq m for office space.
The mall has been in operation since end-2009 with an average of 1.25 million visitors monthly, and is currently more than 99 percent leased.
Romesh Navaratnarajah, Senior Editor of PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
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