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Keppel Land buys Wuxi site for $517 mil for residential development

Property

Keppel Land buys Wuxi site for $517 mil for residential development

PC Lee Published on Mon, Dec 25, 2017 / 8:52 PM GMT+8

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SINGAPORE (Dec 25): Keppel Land has acquired a prime piece of land in the city of Wuxi, in southern Jiangsu province in China, to develop residential properties.

Keppel Land China, through its subsidiary, Keppel Lakefront (Wuxi) Property Development Co. secured the 18.03ha residential site in the city for RMB2.533 billion ($517 million) in a government land tender.

Keppel Land China is a wholly-owned subsidiary of Keppel Land, the property arm of the Keppel Group.