SINGAPORE (Apr 26): CapitaLand’s wholly-owned subsidiary, CapitaLand China, has signed two non-binding memoranda of understanding to explore developing and managing large-scale business park and township projects in China’s Zhejiang province.

These are in line with a new direction in China’s urbanisation drive, which emphasises integration between industrial and urban development.

The first MoU, signed with the Ningbo city’s Haishu District Government, will see CapitaLand explore investing in a business park comprising research and development (R&D) facilities, offices, residences, and civic and community facilities.

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