Singapore’s pattern of investing in cities linked to initiatives from its own government continued this week as Reco Yizhong, an affiliate of Government of Singapore Investment Corp Real Estate (GIC) teamed with a Singapore-listed Chinese property developer to acquire a residential site in Tianjin for RMB 1.16 billion ($224.8 million).
The joint project between Yanlord Land Group and GIC will develop a 364,787 sqm site within the planned Tianjin Haihe Academic Park. The project is the latest Singapore project in Tianjin, following the Sino-Singapore Tianjin Eco-City which broke ground in September 2008.
From Todayonline.com
Leave a Reply