CBC Healthcare Infrastructure Platform (“CBC HIP”), the infrastructure arm of Asia’s largest healthcare-dedicated asset management firm, CBC Group, announced that it has acquired a prime industrial site within the Life Science zone of the Qingpu Industrial Park, Shanghai, with a tenure of 50 years.
CBC HIP, which develops and invests in high-quality healthcare assets across the Asia-Pacific region, plans to develop the 83.76 mu area into a high-specifications life science park comprising eight manufacturing facilities, two Research & Development (R&D) offices as well as other ancillary facilities. The project is targeted for completion in Q2 2024.
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Hans Kang, Chief Executive Officer of CBC HIP, commented “Life science real estate represents an incredible opportunity in China. We are delighted to have taken 100% ownership of this 83.76 mu site, which follows previous investments in Beijing – at the Zhongguancun Life Science Park and the China Bio-medicine Park. The Life Science zone of the Qingpu Industrial Park is strategically located at the center of the Yangtze River Delta Economic Zone, and our development will provide cutting-edge facilities to accelerate world-class scientific research and support the growth of the life science market in China.”
Building on its success as a Traditional Chinese Medicine hub, Qingpu is emerging as a leading life science center with a particular focus on innovative medicines, clinical nutrition, aesthetic diagnostics and high-end domestic medical devices. Situated within the Yangtze River Delta Economic Zone, it is well connected with other life science hubs in Zhejiang and Jiangsu, providing access to leading talent, clinical trial resources and additional business opportunities.
Since 2021, CBC HIP has acquired approximately 410,000 sqm of life science real estate in Beijing and Shanghai and continues to deliver a scalable and sustainable portfolio with attractive risk-adjusted returns for institutional investors. CBC HIP is expecting the final closing of its venture by Q1 2023 with supports from global institutional investors.
CBC Healthcare Infrastructure Platform (CBC HIP) is a partnership between Singapore-headquartered CBC Group, Asia’s largest healthcare-dedicated asset management firm, and APG Asset Management, the largest pension provider in the Netherlands. CBC HIP is expecting the final closing of its venture by Q1 2023.