19 December 2014- CDL China Limited (CDL China), a wholly-owned subsidiary of City Developments Limited, has successfully acquired a high-end, low-density residential project with gross floor area (GFA) of 35,732 square metres (sqm) in Shanghai’s Qingpu District.

The transaction was completed on 10 December 2014, through Shanghai Victory Star Investment Consulting Ltd, an indirect wholly-owned subsidiary of CDL China, via an acquisition of Shanghai Puman Investment Management Limited, a holding company whose immediate subsidiary is Shanghai Xinshun Investment Management Limited, which in turn owns the project company Shanghai Jingwen Zhaoxiang Real Estate Limited (Jingwen). The total transaction value comprising of share acquisitions and assignment of loans amounts to approximately RMB 799 million.

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