18 April 2019

CITIC Pacific sells Shanghai property, filing says

CITIC Pacific Ltd. (00267.HK) said in an exchange filing on Wednesday that it has agreed to sell property assets in Shanghai’s Pudong New Area worth 2.5 billion yuan (US$410.429 million) to China CITIC Bank Corporation Ltd. (00998.HK, 601998.CN). The deal will be handled via CITIC Pacific’s indirect non-wholly-owned subsidiary Shanghai Xintai. Construction at Shanggang Xincunjiedao in the Pudong New Area is expected to be completed before June 30, 2016. The property will be a 15-storey commercial and office development and a four-level underground commercial, cultural and entertainment complex with a combined gross floor area of 47,815 square meters, the filing said.

– Contact HKEJ at [email protected]



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