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Keppel Land forms JV with Gemdale to develop residential site in Nanjing, China

timothy.tay@edgeprop.sg
Updated

Keppel Land China, a wholly-owned subsidiary of Keppel Land, has formed a joint venture with Gemdale Group to jointly develop an 8.8-ha residential site in Nanjing, China. The project will have an estimated development cost of more than $1,040 million.

The site is located in the Nanjing Jiangbei New Area, and the new development will comprise 1,728 units of high-rise apartments and 50 units of streetfront shops. The first phase, comprising 787 units, is expected to be launched next quarter, and the entire project will be completed by 2Q2011.

The site is close to major transport nodes and is connected to the Nanjing city centre, which is a 30min drive from the site. It is also a 15 min drive to the Hexi central business district. Nearby amenities include the upcoming regional shopping mall Jiangbei Wonder City, Gulou Hospital Jiangbei Branch, and Nanjing Middle School.

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Keppel Land China will focus on developing townships, residential, waterfront, commercial, and mixed-use developments in China. To date, Keppel Land China has 20 projects with more than 20,000 homes in the pipeline.

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