>

International

CWG International buys Hangzhou land for $234 mil

By PC Lee

/ The Edge Singapore |

January 15, 2018 9:38 PM SGT

Join our Telegram channel and follow our Facebook for the latest update.

SINGAPORE (Jan 15): CWG International continues to build up its land bank in China.

Indirect subsidiary, Suzhou Chiway Jingcheng Real Estate Co., has put in the winning bid in an auction for the land use rights of a land parcel located in Yuhang District, Hangzhou city, Zhejiang province, China.

The land parcel will be used for residential and commercial purposes, and comprises a site area of 47,683 sqm with a plot ratio of 2. The maximum gross floor area is 95,366 sqm.

The total consideration for the land parcel is RMB 1.14 million ($234 million).

Yuhang district is located in the northwest part of Hangzhou City.

The acquisition of the land parcel will enable the group to sustain its scale and presence in China, says CWG.

CWG intends to enter into a joint venture with a third party to jointly develop and manage the land parcel.

CWG will announce its plans for the land parcel once the agreement on the joint venture has been finalised.

The group expects that the development of the land parcel is not expected to be completed before 2019.

None of the directors or substantial shareholders of the company has any interest in the above transaction.

This story, written by PC Lee for The Edge Singapore, first appeared on Jan 15.

Tags:

Follow our channels to receive property news updates 24/7 round the clock.

Subscribe to our newsletter

Top Articles

1

Sapphire Windows’ Liews: Beyond providing a room with a view

2

Keeping cool in an east-west-facing house with modern glass windows

3

Far East Shopping Centre’s $908 mil en bloc deal aborted

4

World’s largest Mercure Hotel opens on Club Street

5

Luxury living in the new heart of Bukit Timah

Our Site

Property Research

Condos

HDBs

Landed

Commercial

Industrial

Properties For Sale

Properties For Rent

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

Make data-driven property decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property, while the En Bloc Calculator helps to determine the probability of a Singapore project being put up for collective sale. Our whole new Research tool provides you data on past transactions, price trends, and more for condos, HDBs, landed houses, commercial properties and industrial properties.

Aside from that, EdgeProp also offers a market trends tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heatmap that shows you where Singapore’s most popular property sales locations are, a HDB lease tool to calculate your HDB tenure, an affordability calculator, and property alerts to track your preferred Singapore property by project or location, as well as information on new launches.

On the lookout for undervalued property or looking to rent? EdgeProp’s powerful search filters will let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools, or within a HDB Estate or District – so that you find exactly what you are looking for.