SAVILLS has negotiated its first major investment deal in Beijing – selling the Times of Fortune complex for RMB1.4 billion ($US185 million).
The Savills team, led by Joan Wang, took four months to close the deal. The buyer, Shimao Property Holdings Ltd., is one of the most renowned real estate developers in
Times of Fortune has total GFA of 210,000 sqm, comprising a retail mall (62,000 sqm), hotel (52,000 sqm), serviced apartment (45,000 sqm), car parking and other facilities.
The property enjoys a prime location in the Sanlitun area, Chao Yang District,
Sanlitun is growing into a high end retail and recreation centre, especially with the completion of a series of notable projects such as New Sanlitun and China View. Upon its completion in 2009/10, Times of Fortune will be one of the top high-end mixed-use developments in
Australian Property Journal
