Savills Shanghai announced in a statement their involvement as the buyer’s agent in the offshore turn-key transaction of Hopson International Tower in Shanghai, China, for 2.38 billion yuan (300 million US dollars). On July 21, Hong Kong incorporated Pacific Delta Investments entered into an agreement to acquire the entire issued share capital of Interwell for US$300 million. Interwell’s sole asset is a 100 per cent equity interest in Mintai, a wholly-foreign owned enterprise established in the PRC in charge of the construction of Hopson International Tower, a prime commercial project. Hopson International Tower is a 33-storey building designed by KPF and East China Architectural Design & Research Institute, comprising 27 floors of international Grade A office space, and three floors of ancillary retail located on the Huangpu River in Central Lujiazui. Construction is expected to be completed by first quarter 2008.