Li-linked firm sells Shanghai building for 1.5b yuan

ARA Asset Management is selling its International Capital Plaza in Shanghai for 1.54 billion yuan (HK$1.94 billion), the Beijing Times reports.

Billionaire Li Ka-shing owns a 7.84 per cent stake in ARA Asset Management. Photo: SCMP

ARA Asset Management, a manager of real estate investment trusts partly owned by billionaire Li Ka-shing, is selling its International Capital Plaza in Shanghai for 1.54 billion yuan (HK$1.94 billion), the Beijing Times reports.

Singapore-listed ARA Asset Management is in talks with the city state’s Alpha Investment Partners to sell the building in Hongkou district, the newspaper said.

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