Link REIT buys retail mall in Shanghai for 2.7b yuan

Link Real Estate Investment Trust (0823) announced it will acquire 50 percent interest in Qibao Vanke Plaza in Shanghai for 2.77 billion yuan (HK$3.33 billion).

This is the first retail property investment for Link REIT in Shanghai. The deal is expected to be completed next month.

The five-story commercial property has a three-storey basement and offer a retail area of about 148,852.84 sqm and a car park with 1,471 parking slots.