SHANGHAI, Dec. 17, 2016 /PRNewswire/ -- On 17 December, 2016, LKK Health Products Group ("LKKHPG") announced that Shanghai Corporate Avenue 3 was officially named Infinitus Tower. The unveiling ceremony of Infinitus Tower was held on that day. Mr. Lee Man Tat, Lee Kum Kee Group Chairman, Lee Kum Kee Family members, Mr. Sammy Lee, Chairman & Managing Director of LKKHPG, LKKHPG board members and other distinguished guests attended the event.
In December of last year, LKKHPG entered into a sale and purchase agreement to acquire the Property in a consideration of RMB 5.7 billion through a joint venture between the respective subsidiaries of LKKHPG and Vanke Property (Hong Kong) Company Limited ("VPHK"), in which LKKHPG ultimately owns 90% of the shares and VPHK owns 10% of the shares. The Property, developed by Shui On Land Limited, has a gross floor area of approximately 87,295 square meters.
The occupancy rate of the Property' Grade A office building is now at 99%, which currently accommodates PwC, McKinsey, Pernod Ricard, among other leading multinationals. The Infinitus Mall, a high-end shopping mall in the Property, is in the process of attracting merchants and is scheduled to grandly open in the first half of 2017.
Situated at No. 168, Hubin Road, Huangpu District, Shanghai, the Property is located at the core block of the Xintiandi development and recognized as a new landmark in Shanghai. The acquisition and naming of the Property on the basis of LKKHPG's core brand "Infinitus" demonstrate the group's confidence in the future development of China and the healthcare industry as well as its determination to ensure the sustainable growth of the group.
About LKK Health Products Group (www.lkkhpg.com)
LKKHPG specializes in R&D, production, sales and services of Chinese herbal health products; TCM plantation management and sales of raw Chinese medicinal materials; mobile internet platform and related products and services; and property investment. Headquartered in Hong Kong, LKKHPG has subsidiaries in Chinese Mainland, Hong Kong, Taiwan, Malaysia, Singapore and Canada. The group now has four premium properties, including the Infinitus Center in Guangzhou, the Infinitus Plaza in Hong Kong, the Infinitus Tower in Shanghai as well as the Guangzhou Infinitus Plaza, which is now under construction.
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SOURCE LKK Health Products Group