City Developments acquires majority stake in Shenzen Tech Park

Uploaded By:  Paul Howell Submitted By:  Staff Reporter Case Study:  No It has entered into an agreement with Chinese-based Sincere Property Group and two entities of China Ping An. City Developments Limited (CDL) has acquired 84.6% equity interest in Shenzhen Tusincere Technology Park Development Co. Litd. for approximately $174m. Shenzhen Tusincere, in turn, has 65% equity interest in the Shenzhen Longgang Tusincere Tech Park project, with an estimated value of $1.8b, according to independent valuer Cushman & Wakefield. The remaining 35% equity interest is held by a state-owned corporation. read more