Ascendas-Singbridge Group has acquired a premium grade commercial building in Shanghai. The acquisition is in line with its strategic plan to grow its portfolio of high-quality commercial assets in China’s tier-one cities, according to Ascendas-Singbridge.

Located at 686 Jiujiang Road, Huangpu District, the development has a total above-ground gross floor area of 267,841 sq ft. The 14-storey building is close to Shanghai city centre’s core business district of People’s Square and Nanjing Road Pedestrian Street.

Ascendas-Singbridge plans to rename and upgrade the building following the acquisition. The upgraded development will cater to the emerging needs of new and growing enterprises.