Shanghai Tongji Science and Technology (600846.SH), a commercial and residential property developer and construction contractor, said Thursday it aims to raise US$73.41 million (RMB500 million) for two projects in Shanghai and Taizhou, Jiangsu province, through the placement of 69 million A shares with no more than 10 investors, the Securities Times reported...

China Real Estate Opportunities (CREO.LON), a London-listed subsidiary of Berlin-based Wealth Holdings, is preparing to pay US$174 million to buy the Shanghai Yongyin Building on downtown Shanghai’s Huaihai Road, the Oriental Morning Post reported. The building covers 7,566 square meters and contains 62,000 square meters of floor space, including a 28-...

Shanghai real estate developer Greenland Group said it will invest US$1.02 billion (RMB7 billion) developing a block of land in the city’s downtown Luwan district into a luxury commercial development, the Oriental Morning Post reported. Greenland acquired the 186,000 square meter plot for US$530.6 million (RMB3.63 billion) on the last day of last year....

GD Power Development Co (600795.SH), China’s monopolistic electricity distributor, will acquire a 19.6% stake in Shijiazhuang Commercial Bank, becoming its largest shareholder, the Securities Times reported. The deal marks a new round of consolidation of regional financial resources by powerful centrally-owned enterprises. Six companies, including GD P...

Shanghai is aiming to have the general or regional headquarters of at least 3,000 firms in the city by the end of five years, Jin Xingming, vice director of the city’s foreign economic and trade commission, told the “Headquarters Economy Forum Shanghai 2008” conference over the weekend, China Business News reported. The target is triple the...

Wuzhou International Industrial City, a commercial property project in Wuxi, Jiangsu province, developed by Wuzhou International Group, a typical family enterprise from Wenzhou, in Zhejiang province, held a conference in Shanghai Thursday in the hope of attracting global investors, the Oriental Morning Post reported. Wuzhou International Industrial City span...