Future Land Development (01030) said it agreed to purchase Guoco Changfeng City No. 5 Office Tower, Lane 388, Zhongjiang Road, Shanghai at Rmb832.5 million.
The planning use of the asset, as approved by the government, is office building. The gross floor area of the building is 33,300.33 square metres. It has fulfilled the pre-sale conditions as required by the Measures of Shanghai Municipality for Real Estate Transfer, and it also obtained the pre-sale approval from the Bureau of Real Estate and Land Management of Putuo District.
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