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In 2009, Keppel Land further strengthened
its reputation as a choice developer of
homes in China with the acquisition of
its second township site in Shenyang.
Located in Hunnan New District, the
waterfront township will expand the
Group's portfolio in China to more than
30,000 houses.
Keppel Land also strengthened its growth
platform in China with the delisting of
Evergro Properties from the Singapore
Exchange in 2009. Combining the
expertise, industry knowledge and
extensive networks of both companies
will allow Keppel Land to maximise the
potential of its existing portfolio in China.
Residential
Condominiums
Shanghai
Residential Development in Pudong
The 26.4-ha development is located in
Xinchang Town, in the previous Nanhui
District in southeastern Shanghai, which
has been designated as part of the new
Pudong District. The development will
comprise 2,667 mixed units of terraces
and high- and low-rise apartments,
complemented by full-facility clubhouses
and retail outlets.
In May 2009, the Central Government
approved a plan to merge Nanhui District
into Pudong District, China's premier
financial and shipping centre. With the
merger, Pudong District's land area has
more than doubled, forming a larger
economic powerhouse to help drive
Shanghai's effort in becoming an
international finance and shipping hub.
Adding to the attractiveness of its
location, Shanghai obtained approval in
November 2009 to build a Disney theme
park in Pudong District. The theme park
is expected to open by 2015 and is a
15-minute drive from the residential
development in Xinchang Town. The
Commercial Aircraft Corporation of China
has announced plans to build a 2.67-sq
km assembly and manufacturing centre
in Pudong District. The Shanghai
government is also building a Harbour City
in southeastern Nanhui, which is expected
to house industrial parks and some
800,000 people, as well as support the
activities of the Yangshen Deep Water
Port when it is completed in 2020.
Keppel Land's residential development
is well-positioned to tap on the growing
housing demand in Pudong District
arising from increased economic activities
and opportunities. The residential
development is expected to be launched
by mid-2010, capitalising on the
Shanghai World Expo.
Park Avenue
The Park Avenue precinct comprises
three projects - One Park Avenue,
8 Park Avenue and Park Avenue Central.
Located in downtown Shanghai in the
prime Jingan District, Park Avenue is
highly accessible, close to expressways
and the Jingan metro line. A new metro
station on Line 7 located less than 100 m
from the Park Avenue precinct, will be
fully operational in 2010.
Park Avenue is located near the well-known
Nanjing West Road, Shanghai's
major commercial and entertainment
belt. The Shanghai Children Hospital
and one of Shanghai city's top primary
schools, First Centre Primary School,
are also within walking distance of
Park Avenue.
One Park Avenue
The residential development, comprising
1,118 apartments, was fully sold in 2003
and handed over to buyers in 2005.
8 Park Avenue
8 Park Avenue comprises 946
apartments spread over 10 high-rise
blocks, and is equipped with clubhouse
facilities that include an indoor heated
swimming pool, gymnasium, tennis
courts and bowling alley among others.
All 552 units in the first six blocks have
been sold and handed over to buyers.
The much-anticipated launch of the
remaining four blocks of 394 units is
expected to be in the second half of 2010.
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One Park Avenue, which
is part of the popular
Park Avenue precinct,
was a sell-out and
has been handed over
to homebuyers.
