Keppel Land Buys Wuxi Residential Site For $517M

 

Via sbr.com.sg

Keppel Land China Limited (Keppel Land China), through its wholly-owned subsidiary, Keppel Lakefront (Wuxi) Property Development Co., Ltd. has secured a prime 18.03-ha residential site in Wuxi, China, for a total consideration of RMB2,533 million (approximately S$517 million) in a government land tender.

Situated in a mature residential precinct within the Xinwu district, the site has a permissible gross floor area (GFA) of about 360,500 square metres. Keppel Land China plans to develop the site into a residential project comprising 2,053 high-rise, 456 mid-rise and 246 low-rise units.

The site is only 5 km away from Wuxi’s downtown area and is in close proximity to the Sunan Shuofang International Airport and Wuxi railway station. The site is also highly accessible via six bus routes, and in future via the MRT Line 3 which is currently under construction. It is also well supported by a host of amenities nearby, such as the R&F Commercial Street, Shin Shopping Mall and Ren De Hospital.

 

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