Ascendas-Singbridge acquires commercial building in Shanghai

SINGAPORE (March 21): Ascendas-Singbridge Group has acquired a premium grade commercial building in Shanghai. The acquisition is in line with its strategic plan to grow its portfolio of high-quality commercial assets in China’s tier-one cities, according to Ascendas-Singbridge.

Located at 686 Jiujiang Road, Huangpu District, the development has a total above-ground gross floor area of 267,841 sq ft. The 14-storey building is close to Shanghai city centre’s core business district of People’s Square and Nanjing Road Pedestrian Street.

Ascendas-Singbridge plans to rename and upgrade the building following the acquisition. The upgraded development will cater to the emerging needs of new and growing enterprises.

For more stories, download TheEdgeProperty.com pullout here for free.