Mapletree Investments with Pacific Alliance Group to acquire Hong Kong Goldin Financial Global Centre for $954 Million
Mapletree Investments and Pacific Alliance Group (PAG) have joined forces to acquire Hong Kong's Goldin Financial International Centre for HK$5.6 billion (approximately S$954 million).
Mapletree and PAG formed a 50/50 joint venture to carry out this acquisition.
The Goldin Financial Global Centre is located in the second commercial core of CBD2 in Kowloon East, Hong Kong, with a leasable area of 886,703 square feet, according to a joint announcement issued by the two parties on January 12.
J-P Toppino, CEO of PAG, said that Goldin Finance International Centre is an iconic project in Hong Kong's new central business district and the transaction is cost effective and low compared to the replacement cost.
The CEO of Mapletree said, "We are confident that the Hong Kong office market will pick up as China adjusts its clearance policy and reintroduces cross-border travel."
As of March 31, 2022, Mapletree Investment held and managed assets totaling $78.7 billion. In Hong Kong, Plenty Tree has $7,497.3 million in assets under management, with a portfolio of logistics, office, retail and data centers.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
