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Link acquires 50% interest in Shanghai Qibao Vanke Plaza
Transactions - FEBRUARY 9, 2024

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Link acquires 50% interest in Shanghai Qibao Vanke Plaza

by Andrea Zander

Link Asset Management, the manager of Link REIT, has agreed to acquire 50 percent interest in Shanghai Qibao Vanke Plaza in Shanghai for RMB 2.772 billion ($389 million). It is based on the agreed property value of RMB 6.4 billion ($898 million).

“The acquisition is in line with Link’s investment strategy to invest in yield-accretive and income-producing real estate which has potential for long-term growth,” said George Hongchoy, Link’s CEO. “Upon completion, the property will be immediately yielding, with strong growth potential. Shanghai has the fastest retail recovery from COVID-19 among the four Tier 1 cities in mainland China. [According to the Economist Intelligence Unit], Shanghai Qibao Vanke Plaza is a regional destination primely located in a mature

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