A joint venture of CapitaLand has acquired three adjacent land parcels in Chengdu, China's Sichuan Province for RMB692.03 million (S$137.4 million) at government land auctions. The three sites add up to 923,000 square metres and will yield a potential gross floor area of 1.3 million square metres.
CapitaLand plans to amalgamate the three sites and will develop a township comprising 7,400 homes, a theme park, retail facilities, a five-star hotel and serviced villas.
The township will be developed in three phases and is expected to be completed by 2013.
Phase one of the apartments is slated for launch in 2012. - CNA /ls
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