By JASMINE NG
CapitaLand said on Tuesday it will embark on a mixed development project in Chongqing worth 21.1 billion yuan (US$3.33 billion).
The pact was sealed between CapitaLand, CapitaMalls Asia, Singbridge Holdings and the Chongqing government.
The development will comprise a shopping mall and eight towers for residential, office, serviced residence and hotel use. It has a total gross floor area of about 817,000 square metres.
CapitaLand and CapitaMalls Asia each owns a 25.0 per cent effective stake in the development, while SBH owns a 30.0 per cent effective stake. The remaining 20 per cent is held by unrelated parties.
CapitaLand said the project will be funded through a mix of debt and equity.
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