30 Jul '14, 1pm

CapitaLand optimistic about long-term potential of Chongqing property market

CapitaLand optimistic about long-term potential of Chongqing property market

CHONGQING: Deputy Prime Minister Teo Chee Hean on Wednesday (July 30) led a Singapore delegation on a visit to the future Raffles City Chongqing work site. He is in Chongqing on the third day of an official trip to China. The US$3.4 billion (S$4.3 billion) future Raffles City Chongqing is designed by Moshe Safdie, the world-renowned architect behind the Marina Bay Sands in Singapore. Apart from a mall, offices and residences, it will also be a transport hub, with a ferry terminal, cruise centre, metro and bus stations when completed in 2018. Chongqing is one of China's mega-cities, and an industrial and commercial base with a population of 31 million. CapitaLand China CEO Jason Leow said he believes in the long-term potential of the Chongqing property market. “Chongqing is now putting a lot of infrastructure in place, whether it's the new airport, new ports, new bridges, y...

Full article: http://www.channelnewsasia.com/news/singapore/capitaland-...

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