Sunday, October 21, 2012

Keppel Land China buys another slice of Chengdu

Keppel Land China has expanded its presence in Chengdu with the acquisition of a 28.7-ha prime residential site that’s expected to yield 573 homes.


The site is held under Chengdu Shengshi Jingwei Real Estate Investment, which the company acquired for RMB680.4 million (around S$133.0 million).


The upcoming residential development will be Keppel Land China’s fifth in the city and is located next to Hill Crest Villa (another Keppel Land project), comprising 274 landed homes.


It lies within the prime residential enclave of Mumashan, close to Shuang Liu International Airport and the central business district (CBD) and is expected to attract genuine home buyers looking for quality homes.


“Chengdu is witnessing phenomenal growth as Sichuan continues to build up its reputation as a key investment zone in Western China. The acquisition of the new site further strengthens Keppel Land China's portfolio of quality developments that enhances the lifestyle of the affluent Chinese in Chengdu,” said Executive Vice Chairman Ang Wee Gee.


The latest acquisition is “in line with our strategy to further our presence in key cities across China, one of which is Chengdu”, Ang added.


Currently, the developer has four projects in Chengdu – The Botanica, The Waterfront, Hill Crest Villa and Park Avenue Heights.


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