On Wednesday, Keppel Land China unit Shanghai Ming Bu Industrial Co (SMBI) entered a share purchase agreement with Yincheng International Holding Co to acquire a 25% stake in the JV company Nanjing Zhijun Property Development Co for 250 million yuan.
SINGAPORE (Aug 22): Keppel Corp’s China property arm is jointly developing 3.8ha of land in Nanjing, China, into a commercial and residential mixed-use property.
The site has a gross floor area of 99,248 sq m and can yield about 211 residential units, 342 commercial units and 79 shop units, said Keppel on Wednesday. Phase 1 is expected to be launched in 2Q20 and the entire project is slated for completion by 2024.
