21 August 2008
Shui On Land (Stock Code: 272) (SOL) is the property flagship of the Shui On Group and is listed on the Main Board of the Stock Exchange of Hong Kong.
JSM advised Shui On Winnington Capital Limited's acquisition of a part of SOL's Chongqing Tiandi Project, being the super high rise portion. The transaction involves a sale by SOL of a 25% stake in only the super high rise portion for a consideration of RMB1,021 million. An option has also been granted to Winnington to acquire a further 25%. The transaction was announced by SOL on 21 August 2008.
Main features of SOL's Chongqing Tiandi Project include:
- A man-made lake with pavilions and walks along the shore
- A commercial core comprising business service facilities including an exhibition and merchandise centre, luxury hotels, conference facilities, office buildings as well as retail and entertainment amenities.
- Hillside residential "villages" replicating Chongqing's traditional hill-town characteristics and offering scenic views of the lake and the river
- A 98-storey, 398-metre super high-rise inspired by traditional sailing junks on the Yangtze and Jialing Rivers