Keppel Land acquires waterfront site in China

Keppel Land Ltd., the property arm of Keppel Corp, has purchased an additional 66 hectares of land parcel in Zhongshan, China, paving the way to develop its first 86-hectare waterfront residential cum marina project in China.

The company previously announced its interest to develop premium waterfront residential project in China. The acquisition of the land sites were carried out in phases through Sunseacan Investment (HK) Co. Ltd., which Keppel Land has an 80 percent stake.

“Prime waterfront homes are highly sought after in China and Keppel Land is confident that these luxury homes, enhanced by our integrated lifestyle concept, will be well received by homebuyers and investors alike,” said Ang Wee Gee, CEO (International) and executive director of Keppel Land International.

“With the increasing affluence of the Chinese, local homebuyers are becoming more discerning, such that owning a home is beyond the brick and mortar and involves the consideration of status, lifestyle and other value propositions associated with the development.”

Construction works will start at end of this year, and the first phase of development will cost approximately S$225 million. When completed, it will yield up to 2,000 luxury villas with private berths, serviced apartments and condominium units.

Around 30 percent of the total land area will be reserved for a sailing academy, a clubhouse and other recreational facilities for a marina lifestyle, as well as in creating channels and waterways for berthing of nearly 550 boats.

The first edition of waterfront residential project is expected to launch on early-2012. It will feature luxury villas in various sizes.

Fronting the Xijiang River, the integrated waterfront project is nearly 35 km, or approximately a 20-minute drive to Zhongshan’s city centre.