Wharf Buys Building Site in Shanghai's Songjiang District for $145 Million

Wharf (Holdings) Ltd., owner of two of Hong Kong’s largest shopping centers, has bought a building site in Shanghai’s Songjiang district for 992 million yuan ($145 million).

The site has an area of about 80,000 square meters and will be built into a luxury residential complex, the Hong Kong- listed company said in a statement today. This is the sixth parcel of land it has bought in mainland China this year, Wharf said.

To contact the reporter on this story: Kelvin Wong in Hong Kong at kwong40@bloomberg.net

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