Daily News and Transactions across Greater China from Knight Frank
China's Yuexiu sells world's 10th-tallest skyscraper to REIT
May 30, 2012
Yuexiu Property (0123.HK) said it sold one of the world's tallest buildings, a skyscraper in Guangzhou, into its affiliated real estate investment trust (REIT) for RMB8.85 billion.
The Yuexiu REIT will pay the developer to take over a 99% stake in the Guangzhou International Finance Center (IFC). The 457,357-sq-m project includes a shopping mall, a luxury hotel, 58 floors of office space as well as 1,700 car park spaces.
Knight Frank Greater China Property Market News Summary