Published:
Keppel Land China to co-develop Taicang residential site for $469m
The site is expected to yield more than 1,000 residential units.
Keppel Land China has formed a joint venture (JV) with property developer CIFI Holdings to develop a 5.85-hectare residential site in Taicang City, Jiangsu Province, China.
This follows Keppel Land’s acquisition of a 49% stake in CIFI’s subsidiary, Shanghai Shengji Industrial, which owns Taicang Xuchang Property.
The Taicang residential site has a gross floor area (GFA) of 117,052 sqm, and is expected to yield 1,072 high-rise residential units. Phase 1 of the development is said to commence in Q4 2020, with the entire project slated for completion in 2021.
The estimated total cost of the development is approximately $469m.
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