Keppel Land China has secured a 6.6 ha prime site in Wuxi, China for RMB417.6 million (about S$82 million), further expanding its presence in the city.
The company’s fifth project in the area, the site will be developed into 1,135 high-rise apartments with commercial components, targeting mainly the upper-middle market. Expected to be launched in 1H2015, the development will comprise mainly two- to three-bedders and will include shopping streets and SOHO units.
“We are confident that our strong market knowledge, development expertise and hallmark quality will attract genuine homebuyers who seek well-designed and managed residential estates in Wuxi,” said Ang Wee Gee, Executive Vice Chairman of Keppel Land China.
The mixed-use development will also feature recreational facilities including a clubhouse, gymnasium, landscaped gardens and children’s playground. Location wise, the site is close to various amenities like schools, hospitals, shopping malls and supermarkets.
“Wuxi’s housing market is underpinned by strong economic fundamentals and is mainly driven by genuine demand from owner occupiers. Keppel Land China will continue to seize opportunities to strengthen our portfolio and build up our reputation as a choice international developer among discerning homebuyers in cities where we have presence,” Ang added.
Romesh Navaratnarajah, Senior Editor of PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
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