GuocoLand, Hong Leong to develop four Chongqing plots

Singapore

A JOINT venture (JV) of GuocoLand and Hong Leong Holdings (China) (HLHC) will acquire and develop four land parcels in Chongqing, China, for residential use.

This comes after Chongqing municipality awarded the construction land use right for the plots to the JV, GLL Chongqing 18 Steps Pte Ltd, at a bid price of 1.68 billion yuan (S$325.2 million), GuocoLand said in a filing on Friday night.