SAVILLS has closed the transaction of two office towers in Suzhou's "Times Square" to a Korean fund organised by SK Securities.
Savills Shanghai negotiated the deal on behalf of Suzhou United Development Group Co, selling the property for RMB 670 million.
Times Square is a large mixed-use development project in the
It is comprised of a retail area (348,181 sqm), four office buildings (164,694 sqm) and 3,692 car park lots and will be a landmark commercial project in the new Suzhou CBD.
SOGO department store, F&B outlets, entertainment & recreation centre and Grade A office buildings will make Times Square one of the top high-end mixed-use developments in Suzhou upon its completion in 2008/09.
Savills Greater China’s chief executive Randall Hall said the Savills investment team is fast establishing a strong investment track record in
Savills Shanghai’s managing director Albert Lau said as a result, after the deal was concluded, both parties signed an MOU for future co-operation, and Savills was also appointed exclusive agent for SK Securities.
“I am confident that this partnership marks the beginning of even better things to come,” he concluded.
Australian Property Journal