24 Jan '14, 6am

CapitaLand buys Ningbo residential site for $232m - Property Auctions News, Property Investment | PropertyGuru

Jan 24, 2014 - PropertyGuru.com.sg Comment E-mail to friend Bookmark & Share CapitaLand China, a subsidiary of CapitaLand, has acquired a prime residential site in Ningbo for S$232 million. Located in Sunjia, Jiangbei District, the site measures 57,369 sq m and was secured in a government land tender. The developer plans to build about 1,100 units of small and medium-sized units catering to first-time home buyers and upgraders. Construction is expected to begin in the third quarter of this year with the first phase targeted for launch in 2015. The site is a short 15-minute drive from two other CapitaLand projects – Raffles City Ningbo and Summit Residences. Opened in 2012, Raffles City Ningbo is a mixed-use development while Phase 2 of Summit Residences was launched at the end of 2013. Jason Leow, CEO of CapitaLand China, said: “Ningbo is China’s second-largest port with r...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other storie...