{"id":3830,"date":"2010-02-11T07:53:00","date_gmt":"2010-02-11T07:53:00","guid":{"rendered":"urn:uuid:04bbd606-99e3-4cdb-9192-59a2f44bdaa9"},"modified":"2025-03-06T07:22:08","modified_gmt":"2025-03-06T07:22:08","slug":"mapletree-india-china-fund-to-acquire-beijing-gateway-plaza-for-rmb2-9-billion","status":"publish","type":"newsroom","link":"https:\/\/www.mapletree.com.sg\/jp\/newsroom\/mapletree-india-china-fund-to-acquire-beijing-gateway-plaza-for-rmb2-9-billion\/","title":{"rendered":"Mapletree India China Fund to Acquire Beijing Gateway Plaza for RMB2.9 Billion"},"content":{"rendered":"\n
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Singapore<\/strong> \u2013 Mapletree Investments Pte Ltd (\u201cMapletree\u201d) is pleased to announce that its US$1.16 billion private real estate fund, Mapletree India China Fund (\u201cMIC Fund\u201d) has entered into a binding agreement with Hong Kong-listed REIT, RREEF China Commercial Trust (\u201cRREEF CCT\u201d) to acquire 100% of the special purpose vehicle holding legal and beneficial title to the property Beijing Gateway Plaza. The acquisition price is based on a value ascribed to the property of RMB2.9 billion. This acquisition is subject to approval by unitholders of RREEF CCT.<\/p>\n\n\n\n

Mr Hiew Yoon Khong, CEO of Mapletree said, \u201cWe are delighted to add this landmark building in Beijing to our portfolio. Beijing Gateway Plaza is an attractive investment for us. It is a premium Grade A office building located in Chaoyang District, within Beijing\u2019s Lufthansa area, which is one of the four established business districts within Beijing. The building is one of the best located and designed buildings in Beijing and it has a diverse tenant base that includes major multinational corporations and domestic enterprises.\u201d<\/p>\n\n\n\n

He added, \u201cChina is an important investment market for us and with Beijing being the capital city of China; we are confident that the demand for good quality office space will continue to grow. There is limited new supply of Class A office space over the next few years and we expect occupancy and rental rates to trend upwards.\u201d<\/p>\n\n\n\n

This acquisition marks MIC Fund\u2019s fourth investment in China, and its second acquisition of a prime office building in Beijing. The first was the former Motorola Tower (now renamed Mapletree Tower), also located in Chaoyang District, at the intersection of Jianguo Road and East Third Ring Road. MIC Fund\u2019s other investments in China include a mixed-use retail & residential development in Xi\u2019an called Future City and another mixed-use business and lifestyle development called Nanhai Business City in Foshan. Together with this latest acquisition, the total combined value of MIC Fund\u2019s portfolio is now about US$1 billion.<\/p>\n<\/div>\n\n\n\n

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MORE ABOUT THE PROPERTY<\/h3>\n\n\n\n

Completed in August 2005, Beijing Gateway Plaza is a premium Grade A office building with a total above-ground gross floor area of approximately 102,735 sqm. It comprises two 25-storey office towers connected by a three-storey retail podium and 3 levels of car-park below ground. It features large floor plates ranging from about 1,500 to 2,300 sqm, offering clients premium office spaces.<\/p>\n\n\n\n

This iconic building is strategically located at the corner of East Third Ring Road and Airport Expressway and is sited within the prime location of the Third Embassy business district in Beijing. It is well served by road and rail infrastructure, offering tenants convenient direct highway access to Beijing International Airport and rail connectivity via the nearby subway and Airport Express lines. This location advantage makes the building a highly sought after business address for top tier multi-national firms and domestic enterprises.<\/p>\n\n\n\n

Gateway Plaza has a strong tenant base of multinational corporations and domestic enterprises.<\/p>\n<\/div>\n<\/div>\n","protected":false},"featured_media":16285,"template":"","meta":{"_acf_changed":false,"_trash_the_other_posts":false,"ep_exclude_from_search":false,"editor_notices":[]},"tags":[661,114],"newsroom-category":[112,1135],"csr-category":[],"class_list":["post-3830","newsroom","type-newsroom","status-publish","has-post-thumbnail","hentry","tag-661","tag-news"],"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"\nMapletree India China Fund to Acquire Beijing Gateway Plaza for RMB2.9 Billion - MIPL Japan<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mapletree-stag.altis.cloud\/jp\/newsroom\/mapletree-india-china-fund-to-acquire-beijing-gateway-plaza-for-rmb2-9-billion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mapletree India China Fund to Acquire Beijing Gateway Plaza for RMB2.9 Billion - 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