CapitaLand subsidiary secures 2nd residential site in Pudong District

The newly secured site will be developed into approximately 700 value homes and 15,000 square metres of commercial space.

CapitaValue Homes Limited, a wholly-owned subsidiary of CapitaLand Limited, announced that it has secured its second residential site of approximately 36,920 square metres in Shanghai’s Pudong District for approximately S$33.26 million in a government land tender.

Jointly secured by CapitaValue Homes and Shanghai Lingang Wanxiang Economic Development, the site is located in Wanxiang, a suburban town in Lingang New City, Pudong District.

The site will be developed into value homes of an average size of 90 square metres each to cater to the affordability and essential needs of mass market homebuyers in Shanghai.

The new project will increase CapitaValue Homes’ pipeline to approximately 6,300 value homes in China.