Norton Rose Fulbright has advised Hong Kong-listed real estate developer SRE Group on acquisition of assets amounting to 1.31 billion yuan ($196 million) from China New Town Development Company (CNTD).
CNTD is a dual-listed company on the Main Board of the Hong Kong Stock Exchange and the Singapore Stock Exchange. It is a non-state-owned player engaged in primary land development, through joint venture partnership with local government entities in the PRC.
The acquired assets include a portfolio of property projects located in Shanghai Luodian New Town such as the Lake Malaren Hospital Project, Lake Malaren Convention Centre, Crowne Plaza Lake Malaren Shanghai Hotel and Golf Clubhouse and Lake Malaren Silicon Valley Project.
The Norton Rose Fulbright team working on the transaction included Hong Kong partners Psyche Tai and Winnie Chan.