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[vanke chairman yu liang has made it clear at the 2023 shareholders' meeting that vanke will launch a "slimming" plan and has formulated a package of slimming and fitness plans for this purpose. since 2024, in addition to the above three important commercial projects in shanghai, vanke has also sold high-quality assets such as the shenzhen bay super headquarters base.]

vanke has sold another high-quality commercial project in shanghai.

according to tianyancha information, the operating entity of shanghai songjiang impression city, shanghai lishi enterprise management co., ltd., recently underwent a change in equity. the shareholding ratio of shenzhen intime dropped from 50% to 2%, while the shareholding ratio of reco yiyuan private limited increased from 50% to 98%.

among them, reco yiyuan private limited is a subsidiary of singapore's government investment corporation (gic); shenzhen intime is a subsidiary of vanke. this also means that after vanke transferred its 48% stake in songjiang impression city to gic, the latter has become the owner of songjiang impression city. an industry insider who is engaged in bulk asset transactions in shanghai said that the specific price of the transaction was not disclosed because it was a transaction between cooperative shareholders and there was a confidentiality agreement.

lu qiang, executive director of the capital markets department of dtz east china, told china business news that gic's increase in its stake in songjiang impression city is the second time this year that it has acquired a shanghai commercial property, and the third large-scale commercial property acquisition by foreign investors this year. in 2024, when the overall proportion of foreign-funded large-scale mergers and acquisitions is very low and the number of transactions is in the single digit, this highlights foreign investors' special preference for large-scale commercial properties in shanghai.