Date
17 October 2017

Cathay Life invests more in Shanghai property, paper says

The mainland real estate investment arm of Taiwan’s Cathay Life Insurance Co. Ltd. on Saturday bought five floors of the B block of Oriental Financial Square in Shanghai’s Lujiazui area for 720 million yuan (US$118.21 million), Economic Daily News reported Saturday, without citing any source. The price translates to 61,000 yuan per square meter, 7 percent more than what the life insurer paid for some floors of the A block at the same property in September last year. The company had been granted a quota of 1.5 billion yuan by Taiwan’s Financial Supervisory Commission to invest in mainland properties, the report said.

– Contact HKEJ [email protected]

TL/AC/RC

 

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