Chiwayland unit acquires land parcel for 570m yuan
Chiwayland International Limited said its 60 per cent-owned subsidiary, Suzhou Chiway Shangcheng Real Estate Co Ltd, has on Aug 28 won the bid for the land use rights for a land parcel in Nanjing city of China's Jiangsu province.
The consideration for the land parcel covering 14,185 sqm is about 570 million yuan (S$125.5 million). The site is expected to be developed into residential and commercial units.
The group intends to finance the acquisition through internal source of funds and external borrowings.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Condo rents inch up after 7-month decline; volumes recover: SRX, 99.co
Apple to invest US$250 million into expanding Ang Mo Kio campus
High Court dismisses China businessman’s claims against Huttons and agent in misrepresentation suit
URA awards Zion Road, Upper Thomson sites to sole bidders at lower-than-expected offers
DFI puts its last 2 Singapore properties up for sale at S$48.5 million
Delfi Orchard up for collective sale at S$438 million guide price