Keppel Land China to acquire commercial property in Haidian District, Beijing

Keppel Land China, through its wholly-owned subsidiary Tosalco Pte., has entered into an agreement with A Li Yun Shan (Beijing) Business Consulting Co., Ltd. to secure a 100 percent equity interest in Beijing Chang Sheng Business Consulting Co., Ltd. which owns a completed commercial property in Haidian District, Beijing, for an aggregate cash consideration of RMB 555 million ($81.29 million).

The transaction is expected to be completed during the first quarter 2019.

The property is in the Greater Wuluju Area of Haidian District, which is China’s first information technology base and home to Zhongguancun, widely known as China’s Silicon Valley. Also located in the vicinity are the headquarters of the China State Administration of Foreign Experts Affairs and China National Space Administration, and top universities such as Renmin University of China, Beijing Foreign Studies University and Beijing Jiaotong University.

“The acquisition is in line with our str