CapitaLand acquires prime mixed-use site in Chongqing worth 5.7b yuan

Singapore

CAPITALAND has acquired all the shares in a company that owns a 32-hectare prime mixed-use site in Chongqing, in a move that will boost its residential pipeline in China by more than 2,100 units.

The amount payable is 2.2 billion Chinese yuan (S$454.3 million), which includes the agreed value of the property at 5.7 billion yuan, the group said on Wednesday.

The land parcel comprises two greenfield sites that will yield 1,900 residential units and a shopping mall with a combined gross floor area (GFA), excluding car park, of 335,000 square metres when fully developed by 2022. It also includes brownfield sit…