• CDL moves on China

Singaporean hotel investor CDL has bought 24% stake in Chinese developer Sincere Property Group. It will also acquire the majority of Sincere’s mixed use project in Shanghai.

Sincere’s portfolio includes five hotels, two serviced residences and 14 malls. CDL, owner of Millennium & Copthorne, says the deal gives it access to assets and sites in 20 key Chinese cities.

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