JLL Assists Chongbang Group to Acquire Jinqiao International Business Plaza
In September 2016, Chongbang Group acquired an 80% stake in Shanghai’s Jinqiao International Business Plaza for US$516.9 million. For this deal, Shoufeng Capital Management had commissioned JLL as their sole representative to find quality buyers and facilitate the transaction.
In September 2016, Chongbang Group acquired an 80% stake in Shanghai’s Jinqiao International Business Plaza for US$516.9 million. For this deal, Shoufeng Capital Management had commissioned JLL as their sole representative to find quality buyers and facilitate the transaction. This deal not only set a new record as the largest single shopping mall transaction in China, but also strengthened China's long-term investment prospects against a background of market rumors that foreign capital was withdrawing from the country.
Since its opening in December 2009, Jinqiao International Business Plaza has been positioned as “A mall within a garden, a garden within a mall”. It is a mixed-use, customer-oriented, and community-based operation which combines unique cultural and artistic activities and has become a new commercial landmark in Pudong. Jinqiao International’s footprint covers about 60,000 square meters, while the buildings’ floor area is around 180,000 square meters. The patchwork of 11 buildings forms an open commercial space which combines with the garden square and landscaped courtyard to form a rich and varied interactive layout.
For these transactions, JLL brought together the expertise and capabilities of various departments within the company, offering comprehensive services as a one-stop trading advisor. JLL leverages its expertise in the retail property sector, which combines proven operational experience, a clear understanding of the current state and trends in the retail market, and the ability to accurately grasp and coordinate the needs of both buyers and sellers. This helped all parties to achieve a more efficient transaction and thus create a true win-win situation.