CapitaLand’s wholly-owned subsidiary CapitaValue Homes today said it has secured its second residential site of 36,920 square metres in Shanghai’s Pudong District for RMB166.29 million ($33.26 million) in a government land tender.
The site, jointly secured by CapitaValue Homes and Shanghai Lingang Wanxiang Economic Development, a local state-owned enterprise, is located in Wanxiang, a suburban town in Lingang New City, Pudong District.
The newly secured site will be developed into about 700 value homes with an average size of 90 square metres and 15,000 square metres of commercial space. The development will feature lush landscaping with basic facilities for community activities.
This new project will increase CapitaValue Homes’ pipeline to 6,300 value homes in China.
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