Singapore-listed Chiwayland International has acquired a 789,542 sq ft site in Wuxi through its 60%-owned subsidiary Suzhou Chiway Shangcheng Real Estate. Suzhou Chiway Shangcheng is a joint-venture firm set up by Chiwayland and Jiangsu Shagang Group Hongrun Real Estate Development.
According to Chiwayland, the acquisition is part of the company’s ongoing efforts to participate in auctions for land to build up its landbank. The site is located in the east of Wuxi’s Jinkui Park in Taihu New Town. Chiwayland International will announce its plans for the land parcel and any development on the site is not expected to be completed before 2018.
The site is located in the east of Wuxi’s Jinkui Park in Taihu New Town