Keppel Land buys S$180m northeast China site to build residential township

Keppel Land has bought a site in northeast China for S$180 million.

The purchase was made through its wholly-owned subsidiary Da Di Investment.

The 30-hectare site is in Shenyang – the capital city of Liaoning province.

Keppel Land plans to build a township on the site, which will comprise about 6,000 homes and some commercial developments. The project will be targeted at the upper-middle market.

The initial phase of 1,200 high quality apartments is expected to be launched progressively, starting from the second half of 2011.

The waterfront project is Keppel Land’s second township in Shenyang. It will increase the developer’s pipeline to more than 30,000 homes across China.

Source : Channel NewsAsia – 28 Dec 2009

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