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Beijing: ACR asset management acquired the Diamond Plaza in Shangdi, Beijing; Hi-tech industry development drove up the property value in Greater Zhongguancun Area

Recently, ACR Asset Management acquired its first property, Diamond Plaza from Sino-Ocean Capital. The transaction price was not disclosed by far. Located in Z-Park Phase I, Shangdi, Beijing, Diamond Plaza covers a total GFA of approximately 23,000 sq m. It was previously occupied by IBM as R&D Centre and currently used as office space by a high-tech giant. In the vicinity of the property locates hundreds of internationally and domestic renowned tech companies such as Didi, Kuaishou, ByteDance, etc.

Colliers Commented:

Benefited from the rapid development and expansion of the hi-tech industry, office leasing market of Greater Zhongguancun Area continues to heat up. As one of the core submarkets in Greater Zhongguancun Area, Shangdi also shows a robust leasing performance with the highest occupancy rate and average rent among all business park submarkets in Beijing. Backed by the healthy rental performance, the asset value has also increased steadily, attracting investors from both domestic and overseas. Active capital market in Zhongguancun has further reflected the positive market sentiment and investors’ confidence in this fast-growing area.

Source:安狮资产收购北京钻石大厦 远洋资本退出 - 观点地产网 (guandian.cn)