Property group Wing Tai Holdings said its subsidiary Wing Tai China Investment has signed a joint venture agreement to develop a residential project in Guangzhou Knowledge City.
The agreement is with Singbridge Guangzhou, a subsidiary of Singbridge International Singapore.
Wing Tai will hold a 40 percent stake in the project, which will be developed in phases over five years on a 10-hectare site.
With a gross floor area of more than 268,000 square metres, Wing Tai said the development will have 2,000 residential units and a clubhouse with modern facilities.
The project will be located close to a future mass underground transportation station.
Tan Hwee Bin, Executive Director of Wing Tai Holdings, has expressed confidence in the residential development project.
She added that this is due to the development being located in Guangzhou Knowledge City, which is set to be one of China’s leading models of smart-eco city developments.