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Shanghai: 51job spent RMB2.07 bilion purchasing new office in the New Bond

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On July 22, 51 job announced to acquire T6 Building of the Crystal Plaza as the new headquarter with approximately RMB2.07 billion. The property is in the core area of the New Bond with gross floor area of 32,400 sq m, and it is as part of the urban complex project comprised of office, retail, and residential properties jJointly developed by Tishmen Speyer and Sshanghai Lujiazui Group. With a total land area of 32,400 sq m, the development is comprised of office, retail, and residential properties. It is expected that 51job would move in by 2022.

Colliers View:

The transaction reflects investors’ continuous optimism toward Shanghai's office investment market. Located in the core area of the New Bond, Crystal Plaza enjoys convenient accessibility and maturing commercial ambiance by locating adjacent to three major metro lines, quality supporting facilities and industrial base. Looking forward, it is expected that both the rental level and capital value of prime office in this area will continue to optimize in the future.