SINGAPORE (May 17): Metro Holdings, together with other joint venture partners, is acquiring a 90% stake in Shanghai Plaza, for RMB2.9 billion ($613 million).

Shanghai Plaza, a landmark mixed-used commercial building, has a gross floor area of 40,693 sqm spanning across seven floors. It is located at the prime Huai Hai Zhong Road, Huang Pu district, Shanghai, which is the most central district in Shanghai and one of the most densely populated urban districts in China.

The property is also close to the popular shopping district area nearby Xintiandi District, People’s Square and the Lujiazui CBD, with connectivity to major train lines and expressways.

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