Capitaland

Capitaland: Announced on Wed that it has secured a residential site in Shanghai for Rmb 166.29m ($33.26m) in a government land tender. The 36,920 sqm site in Pudong District will be developed into roughly 700 value homes averaging 90 sqm each and 15,000 sqm of commercial space. The development will increase CapitaValue's pipeline in China to 6,300 value homes. The site was jointly secured by CapitaValue and local state-owned enterprise Shanghai Lingang Wanxiang Economic Development.