CapitaLand Development acquires two prime residential sites in China for 3.49b yuan, eyes recovery in sector
Singapore
CAPITALAND Development (CLD) is investing in 2 prime residential sites in China as it banks on a recovery amid headwinds in China's real estate sector.
In a statement released on Monday (Apr 4), CapitaLand Group's development arm said it has landed 1 site each in Wuhan and Chengdu for a total of 3.49 billion yuan (S$748 million). The developer is looking to construct 1,581 quality homes on the two sites, targeting first-time home buyers and upgraders, lifting its residential pipeline under development to 19,139 units.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Airbnb promises to combat sex work in rentals during Paris Olympics
Hong Kong property deals hit three-year high in April
More homes planned in Media Circle to support housing demand
Qatari Sheikh sells London mansion to fellow royal for £39 million
Toronto home sales fall for third month in April; prices rise
Far East Shopping Centre owners in private talks after close of S$928 million en bloc tender