CLD will undertake the master planning and development of the business park, while the operations will be managed by CapitaLand Investment.
CapitaLand Development (CLD), the development arm of CapitaLand Group, has entered into a 50:50 joint venture with Japan’s Mitsubishi Estate Co to invest RMB1.5 billion ($318 million) to develop a business park in China’s Suzhou New District.
Accordingly to a press release by CLD dated Dec 30, the project is located on a five-hectare plot of land within the central business district of Suzhou New District, with a total construction area of over 220,000 sq m. It will feature multi-tenanted buildings with provisions for research and development (R&D) activities as well as community and lifestyle amenities.
