SINGAPORE (May 7): Keppel Corp’s China property division is selling entire stake in Keppel Bay Property Development (Shenyang) Co. (KBPDS) for RMB 503 million ($105 million).

KBPDS owns a residential township project in Hunnan New District, Shenyang city, China.

Keppel Land China’s subsidiaries Da Di Investment and Shanghai Merryfield Land Co have entered into a sale and purchase agreement on Monday to divest their respective interests of 80% and 20% stake in the township to Shenyang Vanke Property Development Co.

Read more on The Edge Singapore.