Diener Syz Real completes project in China
Diener Syz Real Estate has completed a major project in Guiyang, China. According to Diener Syz, the capital was repaid to investors at an IRR of 21.9% and a multiple of 1.70.
The Shangwugang project consists of two office towers, three residential buildings and a shopping center with a total gross floor area of 200,000 sqm. It is surrounded by a large green area and has received the China-2-Star Green Building accreditation.
Shangwugang is located 300 meters away from a high-speed railway station, which began operations in December 2014. The new line reduces travel times between Guiyang and Guangzhou, the center of the Pearl River Delta, from 20 to four hours. Guiyang is the economic center and capital of Guizhou Province in southwest China.
Diener Syz Real Estate realized the project with a local developer, with a 25 percent share in the joint venture. The total project costs for the first phase amounted to 75 million US dollars. (ah)
