Keppel Land: 2 acquisitions by its subsidiary, Keppel Land China Ltd in Chengdu, at Jinjiang District and Xinjin County for RMB 1.2bn and RMB 617m. The first site located in Jinjiang is close to Chengdu’s financial district, and is slated to provide 1630 high-rise apts. The second site is made up of 2 parcels of land. One near Tianfu New City, the future software town and the other near the future CBD….
Both are targeted at the upper-middle income segment and should be launched in the 1st half next year. At 1H10, over 18% or $1.2bn of KLand’s total assets is invested in China and 28% of net profit derived from there.
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