Mori Building Co., owner of China's tallest building, has sold five floors of the property and may offer more in the tower following demand from investors.
Japan's biggest privately held developer said it sold the 68th to 72nd floors of the 101-story Shanghai World Financial Center. The 16,248-sq.-meter space was sold at an average price of 82,142 yuan ($12,588) per square meter, according to information from government-run Shanghai Real Estate Trading Center, which tracks property transactions.
Mori's value per square meter is the highest for China's office space after the Shanghai Port International Cruise Terminal's record price in the second half last year, according to Cushman & Wakefield Inc. The property brokerage said the city's prime office rents rose 23 percent in the first quarter, while Colliers International Research said this week Shanghai's roughly 3.4 million square meters of office space under construction at the end of 2010 was the most among 50 cities worldwide.