Keppel Land purchased Tianjin Eco-City residential site at a "reasonable" S$49.1m

Based on psm computation by OCBC.

Keppel Land (KPLD) announced that it has purchased a 10.37-ha residential site in the Sino-Singapore Tianjin Eco-City for RMB241.1m or S$49.1m.

This gives the land site, which is located along the Ji Canal and is near the commercial sub-centre of the Eco-City, a purchase price of RMB2.3k psm land area which OCBC views as "a reasonable price though limited impact to RNAV is expected."

The research firm further noted that it would develop roughly 350 landed homes, targeted at upper/middle-income homebuyers, and would launch the development progressively starting from 2H14.

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