Overseas projects have been coming the way of Singapore developer Keppel Land, the latest being a string of mega lifestyle precinct developments in Tianjin to fuel its growth in China.

Among the China projects unveiled is a master plan for a 6.26 sq km integrated lifestyle precinct in Xin Li Zhen, advancing its pursuit of residential township opportunities along the Tianjin-Binhai mass transit line. The proposed township will have the capacity to yield more than 52,000 homes over the next 20 years.

Earlier this month, Keppel Land announced waterfront development projects in Abu Dhabi, a third water-front project in Vietnam and new phases of its residential developments in Manila.

On the latest China projects, Keppel Land’s managing director Kevin Wong said: ‘With growing affluence across China, more people will desire a better lifestyle afforded by quality homes. We want to cater to this growing demand, by offering well-planned and designed townships that integrate quality homes with a wide range of lifestyle amenities.‘

Keppel Land also sealed its interest to prepare land for a 44.1 sq km mega waterfront precinct in Gegu town through the signing of a memorandum of understanding (MOU) with the People’s Government of Gegu and Tianjin Hongkan Property Development Company.

Mr Wong said: ‘This is an exciting and unprecedented project in China, where a private developer may directly partake in the land preparation of a massive precinct endorsed by the local government.’

The joint venture will spearhead the master planning and infrastructural development of the precinct as well as the promotion and tendering out of land parcels. Keppel Land will also explore opportunities to secure land parcels within Gegu for the development of townships.

The Singapore developer also announced an MOU to explore the joint development of an integrated business process outsourcing (BPO) park in Tianjin, a designated BPO hub. The MOU was signed with Xiqing Economic & Development Area (XEDA) Administrative Committee and a group of Singapore organisations including Singapore Cooperation Enterprise (SCE).

The proposed BPO park is to be situated within XEDA, a nationally-endorsed electronic and IT industrial district which already counts foreign institutions like Motorola, P&G and Panasonic among its investors.

Yesterday, Keppel Land announced the acquisition of an 80 per cent equity interest in Chengdu Zhong Ao Hua Industrial through a conditional agreement between wholly owned subsidiary Chengdu Hillwest Development and Sichuan Zhong Ao Hua Investment Management. The total consideration for the acquisition is 24 million yuan (S$4.85 million).

Source: The Business Times, 29 June 2007