Postal Saving Bank of China Purchased New Everbright Center No.2 Office Building as a whole, a Real Estate Project of China Everbright Limited
Another Masterpiece of EBA Investments, the Exclusive Real Estate Investment Platform of China Everbright Limited
The first level-A bank branch, Postal Savings Bank of China Beijing Branch, has successfully brought in Beijing’s Municipal Sub Centre (referred to as “Sub Centre” hereafter), Tongzhou District by the New Everbright Center project, a cultural and commercial landmark project of China Everbright Limited (“Everbright”; stock code: 165.HK), one of the subsidiaries of China Everbright Group. Postal Savings Bank of China has just made the purchase in the north tower of the Canal Twin Towers, namely New Everbright Center No. 2 Office Building, in its entirety for self-use. The total transacting GFA of 76,800 m² has championed in central area of the Sub Center in terms of transaction size.
Located in the Canal Business District of Sub Center, where five rivers intersect, New Everbright Center faces towards the century-year-old stupa of Dipamkara Buddha and sits adjacent to the office of Beijing Municipal Government. With GFA of 750,000 m², it is now the Sub Center’s largest and tallest complex real estate project supported by the most advanced and comprehensive facilities. Comprised by a 300 meter high landmark property “Beijing Tower” coupled with the “Canal Twin Towers”, the office building component of the project (GFA 400,000 m²) form the greatest international grade-A office building cluster in the Canal Business District.
New Everbright Center project is developed, operated and managed by “EBA Investments”, the largest and exclusive real estate investment and asset management platform of Everbright. EBA Investments has been engaging in real estate investment for more than a decade and has developed several mature and diversified product lines including equity investment, structured investment& financing, cross-border investment as well as real estate securitization. It provides services in M&A, real estate development, cross-border capital market investment as well as other forms of multi-currency and multi-strategy innovative financing & investment and is well-recognized for its comprehensive asset management competency for developing, refurbishing and operating of most classes of real estate properties. As of March 2018, EBA Investments has 35 projects under management and a total AUM of circa RMB 50 billion. Its outstanding track records have enabled EBA Investments to rank the first in “Top 10 Funds in Terms of Comprehensive Strength among China real estate funds” honorably for four consecutive years since 2015 to 2018.
As one of the Fortune 500, China Post Group is an investment institution authorized by China’s State Council. Its subsidiary Postal Savings Bank of China (PSBC) is a leading large retail bank committed to providing services to the most dynamic and promising customers generated by China’s economic transformation. China Post Group chose New Everbright Center for strength and through this transaction intends to pair up with China Everbright Limited to achieve a win-win cooperation in creating a better future of the Sub Center in financial and commercial aspects. Meanwhile, selected by such influential financial institution as China Post Group, New Everbright Center project demonstrates its incredible value in leading the commercial development of this Beijing’s new central area.
Prior to Postal Savings Bank of China, the Sub Center has already attracted a batch of high-level domestic and overseas financial institutions such as China Construction Bank, Bank of Beijing, Tian’An Property Insurance, Huaxia Insurance. PSBC’s joining indicates another big step in the attraction of financial institutions and capitals, the aggregation of industries and the formation of functional effects of the Canal Business District. It also significantly exemplifies the creation of the Canal Business District as an assembling area of the innovative financial entities and headquarters of upscale enterprises. It is highly expected that the Canal Business District would become a new magnetic pole for the rapid development of financial market following Beijing International Trade Centre CBD and Beijing Financial Street.
