{"id":100907,"date":"2025-02-20T00:00:00","date_gmt":"2025-02-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/adia-divests-majority-stake-in-shanghai-office-tower-to-china-post-life-ins\/"},"modified":"2025-02-20T00:00:00","modified_gmt":"2025-02-20T00:00:00","slug":"adia-divests-majority-stake-in-shanghai-office-tower-to-china-post-life-ins","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/02\/20\/adia-divests-majority-stake-in-shanghai-office-tower-to-china-post-life-ins\/","title":{"rendered":"ADIA divests majority stake in Shanghai office tower to China Post Life Ins."},"content":{"rendered":"

The Abu Dhabi Investment Authority (Adia) reportedly sold a USD 1.5 bn <\/strong>stake of its holding <\/strong>in <\/strong>One Museum Place<\/a><\/strong> \u2014 a grade A, 60-floor office tower in Shanghai \u2014 to a fund backed by Chinese state-linked insurer China Post Life Ins.<\/a>, Mingtiandi<\/a> reports, citing a corporate announcement by the buyer that was later removed following inquiries from the publication. The sale was made through an investment vehicle managed by China Merchants Bank<\/a> and majority owned by China Post Life Ins., at a unit price of USD 8.2k-9.6k per sqm and a 4.5% capitalization rate. <\/p>\n

What we know: <\/strong>The tower had been on the market for over a year, and the sale was reportedly conducted at a 20% discount from Adia\u2019s initial asking price, though it still values the tower at USD 1.5 bn. Adia declined to comment on the transaction when contacted by EnterpriseAM UAE.<\/p>\n

Who owns what now? <\/strong>While Adia offloaded its majority stake in the tower, it retains a minority holding of around 30-40% through the fund, with China Post Life Ins. nabbing a 50% stake. Houston-based developer Hines \u2014 Adia\u2019s longtime investment partner and developer of the project \u2014 also participated in the sale but will continue to manage the property. <\/p>\n

About One Museum Place: <\/strong>The 1.4 mn square foot office tower is 90% occupied with key tenants including Guotai Junan Securities<\/a>, Pfizer<\/a>, and Tencent<\/a> affiliates.<\/p>\n

IN CONTEXT- <\/strong>The move reflects Adia\u2019s recalibration in China amid rising office vacancies and declining rental yields. With Shanghai\u2019s commercial real estate market facing macro-headwinds, foreign investors and private funds have largely stepped back, leaving state-backed players to acquire discounted assets. Adia\u2019s divestment also comes as part of what seems like a broader optimization strategy<\/a> to ration its global real estate portfolio, which has also seen it divest stakes in UK shopping center Liverpool ONE and in 33 hotels under Marriott International brands in the UK. <\/p>\n","protected":false},"excerpt":{"rendered":"

The tower was sold at a 20% discount from Adia\u2019s original asking price<\/p>\n","protected":false},"author":1,"featured_media":100908,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2392],"tags":[368,284,7,1342,60],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-100907","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-abu-dhabi-investment-authority","tag-china","tag-enterpriseam-uae","tag-investment","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"d59e2008-d93b-4718-858a-4756549c39e9","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/6\/271.jpg","photo_position":"above","homepage_title":"","full_issue_title":"ADIA divests majority stake in Shanghai office tower to China Post Life Ins.","related_issue":[100893],"teaser":"The tower was sold at a 20% discount from Adia\u2019s original asking price","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/2\/.0d314c89-324d-43c5-b353-b3527472503b.mp3"},"yoast_head":"\nADIA divests majority stake in Shanghai office tower to China Post Life Ins. - 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