Keppel Land China, a wholly owned subsidiary of Singaporean marine to property company Keppel Corporation, has acquired a 10.97-hectare residential site in the Sino-Singapore Tianjin Eco-City in China for 1.07 billion yuan ($214 million).
The property is situated within the mature startup area of the Eco-City which is near the mixed-use development Seasons City that is being developed by Keppel Land.
The residential site will be developed into an eco-community consisting of 392 units of terrace houses and 180 units of low-rise apartments.
The scheme, which is targeted at upper-middle income homebuyers, is predicted to be inaugurated in the fourth quarter of 2019 and may cost about $380 million.