Keppel Land buys two prime residential sites in Chengdu

Keppel Land has acquired two prime residential sites in China for a total of S$376 million.

The two sites are in Chengdu, Sichuan province, and were acquired through its wholly-owned subsidiary Keppel Land China.

The first acquisition is a 5.1 hectare area located near Dongdajie, which is Chengdu’s financial district.

The other is for two separate sites with a combined land area of 25 hectares.

This is near Tianfu New City which is poised to be the city’s future Central Business District.

Keppel Land China says the upcoming projects are targeted at the upper-middle income segment.

Both developments are expected to launch in the first half of 2012.

Source : Channel NewsAsia – 18 Oct 2010

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