Shanghai commercial property won by Xiaomi is destined for new local headquarters
On October 23, a person familiar with Xiaomi’s deal for commercial land in Shanghai said the property was not intended for the company’s automotive business, but for the new head office in Shanghai, planned for 2018.
“At present, the functions of the head office in Shanghai include research and development of mobile phones, finance, Internet and other activities. The employees of these departments work in separate offices. The construction plan for this land is to bring together these teams, ”added the person.
According to previous reports, the website of the Shanghai Municipal Planning and Natural Resources Bureau shows that the commercial office building in Xuhui District of Shanghai was won by Mi Space SH Limited, with a transaction price of 1.55 billion yuan (242.6 million dollars) and a price floor of 31,001 yuan / ㎡.
SEE ALSO: Xiaomi secures commercial property in Shanghai for 1.55 billion yuan, speculated as the site of the R&D center of the automotive company
According to Tianyancha, a Chinese business data research company, Mi Space SH Limited is an indirect wholly-owned subsidiary of Xiaomi, which was just established on May 28 this year with registered capital of 680.2 million yuan. Its legal representative is Zhang Feng, senior partner and vice president of Xiaomi, as well as the legal representative of Mi Space in Beijing, Nanjing, Wuhan and other branches.