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DTZ concluded a USD 118 million transaction in Beijing

DTZ’s acquisition advice for a residential development project in Beijing

Overview

DTZ’s Hong Kong Investment team represented Shui On Construction and Materials Limited to acquire a residential development project in Beijing from the vendor, Pacific Century Place Premium Developments Limited. Both companies are listed in the HK Stock of Exchange. The project is located at No.4 Gongti Bei Road, Chaoyang District, Beijing right next to the renowned Pacific Century Place with a site area of 14,123 sqm and a total GFA of 57,700 sqm.

What DTZ did

  • DTZ maintains a close working relationship with SOCAM who is one of our loyal clients, having closed two investment deals with them in Guangzhou and Dalian in 2008.
  • In 2004, we represented PCPD in disposing their PCCW Tower in Hong Kong and our Investment team created a close bond with them ever since. This is a very good example in demonstrating the importance we place on client relationship management.
  • DTZ faced many deal breakers during the preparation of SPA and spent a great deal of time, often working through the night, dealing with solicitors and consultants. Both parties compromised in the end and DTZ finally got the SPA signed.

Results

  • The residential project is acquired for USD 118 million.
  • This deal is, so far, the biggest transaction completed by the China Investment team in 2009 and no doubt another excellent track record.

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