Hong Leong invests $280 mil in Chengdu residential project
By Timothy Tay
/ EdgeProp |
Hong Leong Holdings, the privately-held development and investment arm of Hong Leong Group, has started construction of its second residential development in Chengdu, China. A groundbreaking ceremony was held there in mid-September. The development in the Longquanyi district, called Springdale Park, is a 567-unit, low-density housing project in which the company has invested RMB 1.4 billion ($280 million). It is expected to be completed by 2020.
A groundbreaking ceremony of Springdale Park was held in mid-September (Picture: Hong Leong Holdings)
Springdale Park sits on a 430,556 sq ft site in the Longquanyi district to the east of Chengdu’s city centre, and is an hour’s drive away. It is located in the heart of Chengdu’s green city belt. It will be a high-end residential development with an estimated total gross floor area of 1.27 million sq ft.
The development will support the Chengdu Municipal Government’s urban development strategy for its eastern suburbs to alleviate population and infrastructure pressures on its city centre.
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