Agent.sg / Property news / GIC buys LG Twin Towers in Beijing for more than 8b yuan

GIC buys LG Twin Towers in Beijing for more than 8b yuan

Fresh property news selection on February 12. 2020, Wednesday.

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Singapore's sovereign wealth fund GIC has acquired LG Twin Towers from South Korean conglomerate LG Group for over 8 billion yuan (S$1.59 billion).

Located in the Guomao central business district in Beijing, China, the integrated development comprises two Grade-A office towers and a retail podium, GIC said in a media statement on Wednesday.

The development has a total gross floor area of 140,680 square metres and a well-diversified tenant mix.

It is situated along Changan Avenue, a key artery road in Beijing, and offers direct access to the Yonganli subway station.

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