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SINGAPORE (Dec 28): Yanlord Land Group, the China-focused developer, is embarking on a prime integrated project on the Sino-Singapore Nanjing Eco Hi-Tech Island.
For the development, subsidiary Yanlord Land has acquired a 541,000 sqm GFA prime integrated development site on the island for RMB7.84 billion (S$1.6 billion or RM4.95 billion) or an average of RMB14,486 per sqm in a public auction.
Situated within the Nanjing Eco-Island — a flagship economic collaboration programme developed under the auspices of the Singapore Jiangsu Cooperation Council — the site rests along the island’s riverfront offering an view of the Yangtze River and is in close proximity to the Youth Olympic commercial district and the group’s existing development Oasis New Island Gardens.
Connected via planned key thoroughfares running through the island, as well as the adjacent metro station of the No 10 metro line and the upcoming No 4 metro line station, the site will consist of 268,000 sqm GFA of residential development.
Another 273,000 sqm GFA of commercial, hotel, office and tourism space will also be developed to further enhance the suite of amenities available.
Zhong Sheng Jian, Yanlord’s CEO, says: “With its excellent location and connectivity, this site will benefit from the maturing suite of amenities and provides a unique opportunity for Yanlord to augment our existing initiatives within the Nanjing market to further expand our prime development landbank within the core regions of Nanjing city.”
Shares of Yanlord Land closed at S$1.32 on Tuesday. — theedgemarkets.com.sg
