Singapore Land Ltd, a Singapore-based investment holding company that focuses on property investment, trading and hotel operations, has announced that it cooperated with Kheng Leong Co and UOL Group Ltd to jointly acquire a land parcel in Shanghai for approximately RMB2.06 billion.
The 39,540-sq-m land site is located in Changfeng Ecological Commerce District in Shanghai, and will be used to develop commercial and residential properties.
Both Singapore Land and Kheng Leong have a 30-percent stake each in the project; while the remaining 40 percent will be held by UOL Group.