Keppel Land is spending S$97 million to acquire a property development company in Shanghai. This includes cash of about S$14 million and S$83 million in liabilities of the company.
Shanghai Hongda Property Development owns a 26-hectare residential site in south-eastern Shanghai.
Keppel Land plans to develop the site in phases over a five-year period.
The project will incorporate a mixed residential enclave comprising 3,000 homes, spread across terrace houses and low to mid-rise apartment blocks.
It will be Keppel Land's fourth residential development in Shanghai.- CNA/so
No comments:
Post a Comment