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Hong Kong's Lifestyle buys Shanghai site for $388 mln

Reuters 12/16/2011 00:32
Hong Kong's Lifestyle buys Shanghai site for $388 mln - China - Real Estate - Property - Business


Department store operator Lifestyle International Holdings Ltd said it had won the bidding for rights at a Shanghai site for 2.47 billion yuan ($387.72 million), allowing it to build a commercial complex including a department store.



In a filing with the Hong Kong bourse late on Wednesday, Lifestyle said the land covered an area of 50,154 square metres in Zhabei District in Shanghai, adding it would fund the deal with internal resources and loans.


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