Global law firm Norton Rose Fulbright has advised SRE Group Limited on its RMB1.31 billion acquisition of an asset package from China New Town Development Company Limited.

The asset package comprises a portfolio of property projects mainly located in Shanghai Luodian New Town, including, among others, Lake Malaren Hospital Project, Lake Malaren Convention Centre, Crowne Plaza Lake Malaren Shanghai Hotel and Golf Clubhouse and Lake Malaren Silicon Valley Project.

SRE Group Limited, a company listed on the Main Board of the Hong Kong Stock Exchange, is an integrated real estate developer focusing on high-quality development projects and renewal projects in first-tier cities in China, in particular Shanghai. It is also exploring new opportunities in urban development and renewal, medical and senior properties and cultural tourism and innovative technology properties.

China New Town Development Company Limited is listed on both the Main Board of the Hong Kong Stock Exchange and the Singapore Stock Exchange.

The acquisition constitutes a major transaction and a connected transaction under the Hong Kong Stock Exchange Listing Rules.

The Norton Rose Fulbright team comprised Hong Kong partners Psyche Tai and Winnie Chan, associate Virginia Lee and legal supervisor Winnie Cai.