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Sign in Sign up for a FREE subscriptionShanghai office project sells for $680m
Shanghai Bank Co. and Zhongmin Bund Real Estate Development Co. have signed a purchase agreement for the T2 office building project of the Greenland Bund Center, Shanghai.
The joint venture will purchase the T2 building in Block J, Block 616, 735 Neighborhood Bund Project, Xiaodongmen Street, Huangpu District, Shanghai real estate, with a total price of RMB 4.85 billion ($680 million).
The Bank of Shanghai, which is 27 percent owned by the Shanghai government, is purchasing the third-tallest of these commercial towers — which, once completed at the end of 2021, will have 52,900 square meters (569,000 square feet) of class A office space.
