SINGAPORE - Keppel Land China is buying another completed commercial property in Beijing's Haidan district through its acquisition of Beijing Shunxiangren Enterprise Management Co for around 178.6 million yuan .
Shangdi Neo is located in Shangdi Information Industry Park, which is part of the expanded Zhongguancun in the Haidian district of Beijing, also known as China's Silicon Valley. It offers about 4,241 square metres of net leasable area, and will be fully occupied by sole tenant Distrii, an operator of smart, modern working spaces in China and Singapore. This is upon completion of upgrading works.
Subject to completion adjustments, around 20.9 million yuan will be paid to the vendors for the 100 per cent equity acquisition of Beijing Shunxiangren. Keppel Corporation said the transaction is not expected to have a material impact on its net tangible assets per share or earnings per share for the current financial year.
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