3 Floors in the SWFC Sold at RMB 82,000 per SQM

According to media reports on March 22^nd, floors 69, 70, and 71 of the Shanghai World Financial Centre (SWFC), the tallest building in Shanghai, were sold for a total of RMB 769 million. Given the size of floors sold, the unit price paid for the space works out to RMB 82,000 per square metre.

Earlier reports indicated two floors in the SWFC had been sold, with Tomson Group of Taiwan taking the 72^nd floor for RMB267 million (82,300 per square metre) in February. Also the 68th floor was sold for RMB 273 million (RMB82300 per square) on March 7^th.

Now the media reports indicate that the  68th and 71st floors have been contracted for sale, and the sale of the 69^th, 70^th and 72^nd floors have all been registered.  The 68th floor was apparently acquired by Golden Concord Holdings Limited, a Hong Kong-based alternative energy company, however, the buyers of the other floors, with the exception of Tomson, as yet have not been revealed.

A manager from Mori Building, the developer of SWFC, expects more sales of floors in the SWFC. With the sold floors counted as occupied space, sources say that the SWFC has now achieved 80% occupancy.

In contrast to most strata title sales, the transactions at the Mori Building apparently require purchasers not to sell the property within 7 years, and that they have to ensure that usage of the space is in line with the positioning of SWFC.