CapitaLand said to be acquiring Star Harbour International Center project in Shanghai for S$2.5 bil

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SINGAPORE (Oct 17): CapitaLand is said to be investing about RMB 12.79 billion (S$2.54 billion) to acquire the Star Harbour International Center project in Hongkou, Shanghai, according to real estate online portal Mingtiandi.

The group is said to be acquiring its most expensive real estate project yet in China from Shanghai Port Group, after the state-run developer announced last Friday (Oct 12) of its plan to sell the property.

CapitaLand has yet to make a statement regarding the acquisition.

When The Edge Singapore reached out to CapitaLand for comments, the group said the tender has not taken place yet and...(click on link for full story on theedgesingapore.com)