Tue, 08 Mar 2005


CapitaLand acquires Beijing property

SINGAPORE: Singapore developer CapitaLand has signed a deal to acquire office property worth S$362 million (US$222 million) in Beijing's central business district, the company said on Monday.

The property -- located along Jianguomenwai Avenue, facing the China World Office Towers and Hotel -- is near landmarks in the Chinese capital, including the Forbidden City, the China National Theater and numerous government offices and ministries.

The property comprises two 34-story office towers with 106,303 square meters of office space and 330 parking lots, CapitaLand said in a statement.

The office towers are part of a larger commercial complex that is currently under construction, and the property will be completed in early 2006. -- AP