Hongkong Land was said to be organizing a domestic loan of CNY 2.6 billion to CNY 2.8 billion or USD 425 million to USD 457 million to build a Wangfujing international brand center.
The company has contacted with several Chinese and foreign banks and required the loan interest rate to be about 100% of the benchmark interest rate of the People's Bank of China and hoped to exempt from paying early-stage fees.
The center, located in the west side of Wangfujing Street and near Tiananmen Square, covers a land area of about 27,200 square meters and mainly consists of global well-known brands, a high-grade hotel and some office buildings.
The developer, affiliated to Jardine Matheson, is developing commercial and residential projects in Hong Kong, China and Singapore and owns a premium listing status in the London Stock Exchange and the secondary listing status in Bermuda and Singapore.
