THE founder of developer Dragon Land has signed a $12 billion deal to develop a vast township site in China – one of the biggest property deals in recent years.
Mr Peh Chin Hua, who was elected MP for Jalan Besar GRC in 1988 and served for 13 years, told The Straits Times yesterday that he was excited about the project.
“At Dragon Land, we had a hand in developing townships in Fujian, Shandong and Jiangsu. But this is the biggest I have had so far. And it is not easy to get land for such projects in China these days,” he said.
The deal involves Mr Peh’s company, the Singapore White Group, putting in a commitment to invest about $12 billion to develop a series of projects in Zhangye, a city in Gansu province, western China.
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Singapore firm inks $12b deal to develop township in China
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