CentraLand to buy 25,460-sq metre site in Zhengzhou for S$39m

Mainboard-listed CentraLand is buying a 25,460-square metre site in China for 200 million renminbi (S$39 million).

The site in Zhengzhou, the capital of the Henan province, will be redeveloped into a new mixed-commercial building, comprising retail and office space. There will be about 16,000 square metres of commercial retail space and approximately 94,000 square metres of office space.

The parcel is located at the boundary of the old city centre’s business district and the new Zhengdong Central Business District.

Construction is expected to start in the third quarter of 2008, and the group expects to start pre-sales in the first quarter of 2009. The project is expected to be completed by the end of 2010.

Demand for retail and office space in the city is expected to rise in coming years.

CentraLand specialises in high-end residential and commercial developments. – CNA /ls

Source : Channel NewsAsia – 12 Mar 2008

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