23 Oct 2013

Keppel Land China acquires prime residential site in Tianjin Eco-City

Singapore, 23 October 2013 – Keppel Land China Limited (Keppel Land China) has acquired a 10.37 ha prime residential site in the Sino-Singapore Tianjin Eco-City (Tianjin Eco-City) for RMB241.1 million (approximately S$49.1 million).

The land acquisition agreement was signed between Mr Ho Cheok Kong, President of Keppel Land China, and Mr Ho Tong Yen, CEO of Sino-Singapore Tianjin Eco-City Investment and Development Co., Ltd. (SSTEC), at the 6th Singapore-Tianjin Economic and Trade Council meeting in Singapore this morning. It was witnessed by Singapore’s Minister for National Development Mr Khaw Boon Wan and Mayor of Tianjin Municipal Government Mr Huang Xingguo.

Keppel Land China plans to develop about 350 landed homes on the new site, which is located within the Start-Up Area and close to the future city centre in the Tianjin Eco-City. Situated along the historic Ji Canal, the new development is also near the Commercial Sub-centre.

Targeted at the upper-middle income homebuyers, the new landed homes will be launched progressively, starting from the second half of 2014.

Residents can look forward to easy and direct access to major locations including one of China’s

In line with Keppel’s commitment to the vision for the Eco-City, the new homes will be developed according to the Tianjin Eco-City’s Green Building Evaluation Standard, which is a combination of China and Singapore’s green building standards.

Keppel Land China’s first eco-homes in the Tianjin Eco-City, the 1,672-unit Seasons Park, was launched in 2010. As at end-September 2013, about 77% of the 1,105 launched units have been sold. Phase 2, Seasons Garden, comprises about 1,190 homes and was launched in August 2013. The commercial development, Seasons City, will comprise three office towers and retail premises with a total gross floor area of 162,000 sm. The first phase will feature one office tower and a retail complex, and is expected to be completed by 2017.

The above transaction is not expected to have any significant impact on the net tangible asset per share or earnings per share of Keppel Land Limited for the current financial year.

About Keppel Land

Keppel Land China Limited (Keppel Land China) is a wholly-owned subsidiary of Singapore-based Keppel Land Limited (Keppel Land), which is the property arm of the Keppel Group.

Keppel Land is one of the largest property companies by total assets on the Singapore Exchange. The Company focuses on a two-pronged strategy of property development for sale and property fund management.

One of Asia's premier property developers, Keppel Land is recognised for its sterling portfolio of quality award-winning residential developments and investment-grade commercial properties, as well as high standards of corporate governance and transparency.

Keppel Land China is focused on developing township, residential, waterfront, commercial and mixed-use developments in China. Over the years, the Company has been expanding its footprint in China to over 10 cities. To date, Keppel Land China has over 20 projects with a total GFA of 7.7 million sm, which translates to about 40,000 homes.

Keppel Land China is also an investor as well as developer cum project manager for the Keppel Group development, in the landmark Singapore-China government project, the Sino-Singapore Tianjin Eco-City.

About the Sino-Singapore Tianjin Eco-City

Sino-Singapore Tianjin Eco-City (Tianjin Eco-City) is a landmark bilateral project between Singapore and China with private-sector investment and development. Located in the Tianjin Binhai New Area (45 km from Tianjin city centre), the 30-sq km Tianjin Eco-City is envisioned to create a harmonious and sustainable community that meets the needs of an urbanising China and will be a modern township where 350,000 residents can live, work and play.

Sino-Singapore Tianjin Eco-City Investment and Development Co. Ltd (SSTEC) is the master developer for the Tianjin Eco-City. It is a 50/50 joint venture between the Chinese Consortium led by Tianjin TEDA Investment Holding Co., Ltd (Tianjin TEDA) and the Singapore Consortium led by the Keppel Group.

Cookies help us improve your website experience.
By using our website, you agree to our use of cookies.