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Vanke and Keppel link up
By Cherry Cao |
April 17, 2013, Wednesday
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Online Edition
Online Edition
CHINA Vanke Co, the country's largest developer by market value, has entered into a strategic partnership with Keppel Land Limited that will see both companies jointly develop properties in Singapore and China.
The first joint-venture project under their alliance will be a 726-units condominium development in Tanah Merah in Singapore.
Vanke, through a wholly-owned subsidiary, will acquire a 30-percent stake from Keppel Land for about SG$135.5 million (US$108.8 million), according to the two companies.
"Vanke looks forward to this long-term partnership with Keppel Land, one of Asia's leading property developers," said Yu Liang, president of Vanke.
"We are confident that our first joint development project will set the pace for future collaborations in both Singapore and China."
The first joint-venture project under their alliance will be a 726-units condominium development in Tanah Merah in Singapore.
Vanke, through a wholly-owned subsidiary, will acquire a 30-percent stake from Keppel Land for about SG$135.5 million (US$108.8 million), according to the two companies.
"Vanke looks forward to this long-term partnership with Keppel Land, one of Asia's leading property developers," said Yu Liang, president of Vanke.
"We are confident that our first joint development project will set the pace for future collaborations in both Singapore and China."
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