Singapore's CapitaLand jv buys three China sites for 692.03 million yuan |
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Thu, 25 Oct 2007 12:24
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SINGAPORE (Thomson Financial) - Singapore property developer CapitaLand said its unit Sichuan CapitaLand Zhixin (CapitaLand Zhixin) bought three adjacent land parcels for 692.03 million yuan in Chengdu City in the Sichuan province of China.CapitaLand Zhixin, a joint venture between CapitaLand China and Sichuan developer Chengdu Zhixin Industrial Co Ltd, intends to develop the site into a commercial and residential complex comprising 7,400 homes, a theme park, retail facilities, a five-star hotel and serviced villas.CapitaLand said CapitaLand Zhixin is on track to develop about 25,000 homes by 2014.The company has been actively expanding its presence in China's key cities of Beijing, Shanghai and Guangzhou and their surrounding areas.(1 US dollar = 1.46 Singapore dollars, 7.50 yuan)pearl.bantillo@thomson.comjb/zrCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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