SilkRoad Property Partners expands further in Shanghai’s community retail with the acquisition of two malls
SilkRoad Property Partners has completed the acquisition of two community retail projects in Pudong, Shanghai, with a combined gross floor area of approximately 25,000 square meters on behalf of an institutional fund it manages. SilkRoad is delighted to have cooperated with Shanghai Vanke. Peter Wittendorp, CEO of SilkRoad said, “We were attracted by the exceptionally high-quality of these projects and their superior location and we believe that these community retail projects are excellent long-term investments”. Berend Poppe, Managing Director China, added “we are thrilled to have been able to work with Vanke on these great investments and look forward acquiring more projects in Mainland China”. SilkRoad believes that community retail has a bright future in China, with growing consumer spending and focusing on providing daily necessities and services to the local residents. These are the third and fourth investments that SilkRoad has made over the last few years in Mainland China. SilkRoad is optimistic about this segment of the retail sector and has a very positive experience in managing a community retail project in Pudong. SilkRoad believes these acquisitions are an excellent addition to its growing portfolio across the region.