Cushman & Wakefield brokers CapitaLand purchase of Beijing’s Suning Life Plaza

One of both assets acquired is Suning Life Plaza, an integrated project in Beijing which was bought by a single-asset account under the CCOP Programme for $553 million. The agreement was brokered by Cushman & Wakefield, that states it observes the very first CBD business real estate purchase in China this year. “The agreement is just one of the opening by an overseas investor since the federal government began curtailing its rigorous anti-Covid-19 policies in December,” says the consultancy in a March 13 announcement.

“While some overseas capital stays cautious on China investments, there are several experienced, future investors that view the current economic issues as a window of opportunity to invest in China while they encounter less competition from fellow,” adds Catherine Chen, Cushman & Wakefield’s head of funding markets research, Greater China.

Gordon Marsden, director of funding markets Asia Pacific at Cushman & Wakefield, says that the package shows the recurring attraction by clients in the Mainland China market. This remains in line with findings from a recent poll performed by the consultancy, which reveals financier intentions continue to be focused on Tier 1 towns in Mainland China.

Sky Eden condominium

Suning Life Plaza is a 19-storey project with 566,182 sq ft of office and also retail net lettable area. “Adhering to the acquisition, the fund will restore an area of the industrial location for office use. While investable real estates in Beijing have generally been scarce, Suning Life Plaza has emerged as a great opportunity for property upgrading plus improvement,” states Charli Chan, Cushman & Wakefield’s managerial supervisor of funding markets in China.

Last month, CapitaLand Investment (CLI) introduced the acquisition of 2 properties in China via the CapitaLand China Opportunistic Partners Programme (CCOP Program). The fund has actually boosted $1.1 billion in dedicated investment to invest in exclusive case possibilities in China.

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