CAPITALAND said yesterday it has bought three adjacent land parcels in Chengdu City, Sichuan Province, in for RMB692.03 million ($137.4 million) through its joint venture with Sichuan developer Chengdu Zhixin Industrial Company.The developer plans to develop a township on the 922,709-square-metre Wenjiang District site, which will comprise about 7,400 homes, a theme park, retail facilities, a five-star hotel and luxurious serviced villas.
It said the project, expected to be fully completed by 2013, is in line with its strategy to expand its multisector footprint from key gateway cities — including Beijing, Shanghai and Guangzhou and its respective surrounding areas — to the second- and third-tier cities in the central and western regions of China.
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