25 August 2019

Oceanwide to buy Los Angeles plot for US$200 mln, paper says

Oceanwide Real Estate Group Co. Ltd. (000046.CN) said Thursday it has agreed to buy a plot in Los Angeles, California, for US$200 million, the China Securities Journal reported Thursday. The commercial-residential land will be acquired from Fig Central Fee Owner LLC via an investment arm in Hong Kong, according to the newspaper. Located in the central business district, the site measures 18,700 square meters and can be converted into 223,000 square meters. It will be developed into a five-star hotel, high-end residential apartments and shopping centers, the report said.

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