Singapore, 16 August 2011 – CapitaLand Limited, through its wholly ownedsubsidiary CapitaLand China Holdings, has secured a prime 32,040-square-metreresidential site in Hangzhou’s Gongshu District for RMB1,113.98 million(S$213.27 million) in a government land tender. This translates to about RMB13,906(S$2,662.35) per square metre per plot ratio.
CapitaLand plans to build an estimated700 units of mid- to high-end homes on the site, with the launch of the first phaseexpected in 2013.
The site has an approved potential gross floor area of 80,105 square metres and is inHangzhou’s upcoming Grand Canal central business district. It enjoys scenicwaterfront views and is surrounded by lush greenery. Hangzhou, as the provincialcapital and the largest city of Zhejiang Province, is set to play a strategic role in
China’s economic growth as the government’s Yangtze River Delta Region Planning gains full steam.
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