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Yanlord ties up with China Ping An Insurance unit to develop site in Suzhou

YANLORD Land Group is partnering a subsidiary of China Ping An Insurance, Shenzhen Lianxin Investment Management Co, to jointly develop a 295,000-square-metre prime integrated development in Suzhou city's Gusu District.

Yanlord has acquired a 30 per cent stake in the project company which holds the prime residential site that was acquired through a public land auction for four billion yuan (S$804 million).

Situated within Suzhou city's administrative district, the site enjoys connectivity through key thoroughfares and is adjacent to stations of the city's metro line.

Future residents of the project will enjoy amenities such as shopping malls, hospitals, libraries and schools, Yanlord said.