CapitaMalls Asia has agreed to buy the Meili Mall in Chengdu for about S$95 million. The seller is Chengdu Vanke Property. Including fitting out works, CapitaMalls Asia's estimated total expenditure on the mall is S$106.9 million. The mall is part of a mixed-use development, comprising retail and residential components. It is currently being developed by Chengdu Vanke Property and expected to be...
China Property
Mainboard-listed China-based property developer Ying Li International intends to acquire two potential prime sites in China. It is setting up a wholly-owned subsidiary through the acquisition of Shiny Profit Enterprises, which has an initial registered share capital of US$10,000, for the purpose. Through Shiny Profit, Ying Li plans to buy two prime sites located in the Chongqing Yuzhong Central Business...
CapitaLand is buying the real estate business of Hong Kong's Orient Overseas International for about S$3.1 billion in cash. The move will double CapitaLand's property portfolio in China, which will now make up 36 per cent of the group's total assets following the acquisition. The latest acquisition will expand its portfolio to include seven sites for development in Kunshan, Tianjin and...
Singapore-listed developer Yuexiu Property said on Tuesday that one of its units has acquired a plot of land in China for 544 million yuan or about S$112 million. It said its 95 per cent-owned subsidiary acquired the land in Guangdong's Zhongshan City last week through a public land auction. The plot of land has a permissible gross floor area of about 418,000 square metres and a site area of some 167,000...
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...
Singapore property developer CapitaLand has set ambitious targets for its China operations, as it marks 15 years of doing business on the mainland. It wants to double the number of its shopping malls and housing developments in China in the next five years. It is also looking to expand its service apartments business. CapitaLand is celebrating 15 years in China with a bang. It said China will continue to...
CapitaLand's serviced residence unit, Ascott, has clinched a contract to manage its third service residence in Xi'an, China. No financial details of the contract were given. The Citadines Xi'an Xingqing Palace is slated to open in 2011. The property will offer 160 studio apartments, each with a fully-equipped kitchen, an en-suite bathroom and a separate work area. Ascott's two other serviced residences...
Capitaland's wholly-owned serviced residence business unit, The Ascott Group, has opened its fifth serviced residence in Beijing. It is also the first time an Ascott serviced residence has partnered with Raffles City to offer an integrated lifestyle development comprising a retail mall, an office tower and a serviced residence. Located in Dongcheng District, the new serviced residence is near the Second...
Mainboard-listed retailer Metro Holdings is expanding its property business in China. The firm said on Friday that it is making an investment commitment of about S$41.7 million to acquire stakes in three developments in Anshan, Fushan and Qinhuangdao. Metro's wholly-owned subsidiary, Metro China, has set up a 21.4 per cent associated firm called Diamond Wind Company for the investment. The balance 78.6...
The Sino-Singapore Tianjin Eco-City Investment and Development Company is tying up with education services provider GEMS Education to co-develop a S$30 million international school in Tianjin, China. This will be GEMS' first flagship greenfield international school in China. The GEMS World Academy Tianjin will be located near the commercial centre of the Tianjin Eco-City's start-up area. It will open its...