CMA: Co-op agreement with Suzhou Industrial Park (SIP) government yday to develop the largest shopping mall in Suzhou. Under the agreement, both parties will jointly develop and own a shopping mall and two office towers on the prime site in Suzhou Centre. The total dev cost is expected to be abt $1.4b and CMA’s share is approx $700m.
The development, with a total GFA of about 460k sqm, is in the heart of the western CBD of SIP, next to the renowned Jinji Lake and near the traditional city centre in Suzhou. With direct connectivity to two metro lines (line 1, which will be operational by next year, and the future line 6), it is to be easily accessible by Suzhou’s 10.5m residents. The retail area of GFA approx 250k sqm will house an Olympic-size ice rink and a Cineplex with 2 Grade A office towers with total GFA of 60k sqm.
CMA trades at current P/B of 0.8x.
No comments:
Post a Comment