Savills reps SOHO China in $500 million acquisition of 142,184 s/m plaza property

Shanghai, China SOHO China Limited, represented by Savills Shanghai, has acquired Shanghai New World Changing Commercial Center for $500 million (RMB3.2 billion). The deal represents SOHO China's largest acquisition in the area to date and, on completion, the building will be renamed "SOHO Zhongshan Plaza." SOHO Zhongshan Plaza comprises two towers totaling 142,184 s/m which offer 100,199 s/m of office space and 12,664 s/m of retail accommodation. Albert Lau, managing director of Savills China, said, "As China's economy continues to experience positive growth, domestic and international corporates seek quality office space in Shanghai - its business capital. This deal not only represents a large real estate transaction but also a fantastic opportunity for SOHO China to acquire a substantial real estate holding."