Keppel Land buys new site in Shenyang

Keppel Land buys new site in Shenyang

 

Keppel Land has acquired a new site in the Chinese city of Shenyang for integrated township development.

 

It paid 30.7 million dollars for the 10-hectare site, which lies adjacent to another site it acquired last August.

 

The combined site area will measure about 34 hectares and will house an integrated township development with a mix of mid and high rise apartment blocks.

 

The blocks will house two and three bedroom units.

 

When completed in 2013, the township development will yield about 5,600 homes.

 

The homes are targeted at upper-middle income home buyers, with sales launch for the first phase expected to be carried out in 2009.

 

Keppel Land said the transaction is not expected to have any material impact on the consolidated earnings and net tangible assets per share for the current financial year.

 

Source: 938Live

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