Keppel Land pays $180 million for site in China

Keppel Land has purchased a site located in northeast China through its wholly-owned subsidiary, Da Di Investment, for $180 million.

A residential township is being planned on the 30-hectare parcel of land, which is in Shenyang. It will comprise some commercial developments and around 6,000 homes. This project will target the upper-middle class.

The progressive launch of the initial phase of 1,200 high-quality apartments will start from the second half of 2011.

The waterfront project is the second township being developed by Keppel Land in Shenyang. It will increase the pipeline of the developer to over 30,000 homes throughout China.