Singapore, 7 November 2019 – GIC, Singapore’s sovereign wealth fund, has just acquired a 50% stake in an office building in Lize Financial Business District (LFBD), an emerging central business district in Beijing. Following this acquisition, the building will be wholly owned by GIC.
Situated at the centre of the LFBD, this grade-A, 42-storey asset is the district’s tallest building, and enjoys a prime location in terms of visibility and accessibility. It stands along Lize Road, a major thoroughfare, and is also directly connected to an interchange station for key public transport lines. Its accessibility and attractiveness to potential tenants will be further enhanced by upcoming infrastructure developments in the LFBD.
This investment reflects GIC’s continued confidence in China, and commitment to acquiring quality assets with good long-term earning potential in this market.