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CVKEY.PK - China Vanke Ventures Into Singapore Real Estate Market

|Includes: China Vanke Co., Ltd. ADR (CVKEY)

Prepared by ChinaScope Financial | Source:Sohu

  • On April 16, Keppel Land Limited (Keppel Land) and China Vanke Co., Ltd. (China Vanke) (000002: SHE) entered into a strategic partnership to jointly develop properties in Singapore and China, marking China Vanke's first venture into the Singapore real estate market.
  • The new partnership's first project features the development of a 726-unit condominium in Tanah Merah, Singapore, where Wkdeveloper sig I Private Limited, a wholly-owned subsidiary of China Vanke, will acquire a 30 percent stake from Keppel Land for an aggregate amount of SGD 136 million (or CNY 678 million).