Shanghai Zendai's S African 'city' takes off
Johannesburg
CHINA'S Shanghai Zendai Property on Tuesday launched the first phase of an 87 billion rand (S$9 billion) new city project in South Africa, saying the slowdown in the world's second-largest economy would not affect construction.
The local unit of the Hong Kong-listed firm said that it had completed some luxury accommodation units at a cost of 400 million rand, taking investment on the project near the commercial capital of Johannesburg to 1.4 billion rand. The homes are part of the planned 1,600 hectare "Modderfontein New City" that will include offices, a light industry park, h…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
DBS puts 46 HDB shops, private strata retail units on market for S$210 million
US mortgage rates jump above 7% for the first time this year
Far East Shopping Centre back on market at unchanged S$928 million asking price
London mansions sold at 30% discount spell gloom for luxury market
Delfi Orchard up for collective sale at S$438 million guide price
US existing home sales drop in March; median price increases