Singapore's Keppel Land buys China property for 155 million yuan

SINGAPORE, Jun 18, 2008 (Thomson Financial via COMTEX) -- KPPLF | Quote | Chart | News | PowerRating -- Singapore property developer Keppel Land Ltd. said on Wednesday it has acquired a property site for 155 million yuan ($22.5 million) in Shenyang City, the capital of Liaoning province in China.

The property is adjacent to another site that Keppel acquired in August 2007. The combined sites, measuring about 34 hectares, is intended for integrated township development with a mix of mid- and high-rise apartment blocks, the company said.

The project is expected to yield about 5,600 homes and is scheduled to be completed in 2013. The first phase of the development, targeted at upper middle-income homebuyers, will be up for launch in 2009.

($1 = S$1.37; 6.88 yuan)

pearl.bantillo@thomsonreuters.com

MMMM

More News:   Market Updates | Stock Alerts | All Trading News | Stock Index