Chiwayland making foray into US property market

Singapore

CHIWAYLAND International is taking its first step into the US property market with a half-stake in a joint venture to develop a US$69 million residential and hotel project in Los Angeles.

The China and Australia-focused company said that it plans to convene an extraordinary general meeting in August to seek shareholders' approval for expansion into North America, Western Europe and Asia. The company said that it has "earmarked" revenue contribution from overseas projects to be at least 50 per cent within the next five years.