Keppel Land acquires Shanghai residential site for S$266m

Prime location near airport and city centre.

Keppel Land (KPLD) announced that it has acquired a 17.5ha residential site in Shanghai’s Seshan area for RMB1.33b (S$266m) on which it would develop ~200 landed homes with 250-350 sqm GFA, according to OCBC Investment Research.

OCBC said it views the acquisition positively and estimate that it would accrete 3.5 to 5.2 S-cents to KPLD’s RNAV.

Part of the site's attractiveness lies in its location, which is 20km away from Shanghai Hongqiao International Airport and 32km from the city centre. Owners of landed homes on the site will also enjoy views of the Sheshan National Forest Park.

The new residential site will be KPLD’s ninth project in the city of Shanghai.