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Keppel Corp secures residential site in Sino-Singapore Tianjin Eco-City
KEPPEL Corporation's subsidiary Keppel Land China has secured a 10.97-hectare residential site in the Sino-Singapore Tianjin Eco-City for a total consideration of 1.07 billion yuan (S$214 million).
A total of 392 units of terrace houses and 180 units of low-rise apartments will be developed on the site. The project is expected to be launched in Q4 of 2019, and is targeted at upper-middle income homebuyers.
The total development cost for the project is expected to be in excess of 1.90 billion yuan, said Keppel Corp.
The site is located within the mature Start-Up Area of the Eco-City and is in close proximity to amenities such as Tianjin Binhai Foreign Language School, Yongding Zhou Cultural Park and No 1 Community Centre. It is also near Seasons City, a mixed-use development currently being developed by Keppel Land.
The site is also about 20 minutes' drive away from Tianjin Economic-Technological Development Area, one of the first national-level economic and technological development areas in China. Upon the completion of the Z4 rail line, the Eco-City's connectivity to other parts of Tianjin will be enhanced, said Keppel Corp.
Ben Lee, president of Keppel Land China, said: "Our eco-friendly homes have been well received by the market. To date, Keppel Land has launched about 4,500 units of homes in the Eco-City, of which about 98 per cent have been sold. A further 346 units of homes will be launched in 2019."