China Xintiandi seeks faster development after creating a strategic partnership with Canadian alternative asset company Brookfield Property Partners, which agreed to invest up to $750 million in the company last October.
After nearly a decade of study on the China market, Brookfield decided to build cooperation with China Xintiandi and its parent company Shui On Land, according to Bruce Flatt, CEO of Brookfield Asset Management, the parent of Brookfield Property Partners.
Brookfield's initial investment will be focused on China Xintiandi's key projects in Shanghai, including Shanghai Xintiandi, Xintiandi Style, Shui On Plaza, Corporate Avenue 1, Corporate Avenue 2 and the Hub, a flagship project of Xintiandi located at Shanghai’s Hongqiao Transportation Hub.
Brookfield will also explore other commercial property investment opportunities. It is planning to secure an additional $500 million of capital for investment in the commercial property sector in China.
China Xintiandi Co, the premium commercial property unit of Shui On, started to operate separately in March 2013. As a wholly owned subsidiary, it will now focus its role as a commercial property investor, operator and manager. The change is expected to bring higher efficiency.
Vincent Lo, chairman of China Xintiandi, revealed that a separate listing for China Xintiandi is likely in 2015.
Contact the writer at wang_ying@chinadaily.com.cn
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263 Registration Number: 20100000002731 
