It is located in a residential neighbourhood, near two existing projects by joint ventures involving both Frasers Property (SGX:TQ5
) and Gemdale Corporation.
Frasers Property has acquired a residential site in Shanghai for a total consideration of RMB815.2 million ($150.34 million), together with Xiamen ITG Real Estate Group and Gemdale Corporation in a joint venture tender.
The residential site, which is in Fangsong Community, Songjiang District in Shanghai, will be developed into a mix of 189 low-rise apartments, townhouses and duplex units. The total gross floor area amounts to about 31,096 square meters (sqm).
