Chiwayland International has acquired a 114,270 sq m land parcel in Penrith, Sydney, Australia for A$40 million ($40.1 million), with plans to develop 400 apartments and 364 townhouses on the site.
This is the group’s seventh property development project in Australia.
The site is situated beside the University of Western Sydney, Penrith campus and a three-minute drive away from Kingswood Train Station. Penrith is also expected to benefit from the establishment of a high-speed rail with links to the second Sydney Airport.
The project will be carried out in three phases with an expected completion by 2020. The first phase involves the development of a row of townhouses, while the second and third will involve the development of the apartments.
The total investment for the project is estimated to be A$320 million and launch date for the townhouses and apartments are expected to be in 2H2017 and 2H2018 respectively.
Chiwayland’s shares closed lower at 10.1 cents on Thursday.
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This is the group’s seventh property development project in Australia.
The site is situated beside the University of Western Sydney, Penrith campus and a three-minute drive away from Kingswood Train Station. Penrith is also expected to benefit from the establishment of a high-speed rail with links to the second Sydney Airport.
The project will be carried out in three phases with an expected completion by 2020. The first phase involves the development of a row of townhouses, while the second and third will involve the development of the apartments.
The total investment for the project is estimated to be A$320 million and launch date for the townhouses and apartments are expected to be in 2H2017 and 2H2018 respectively.
Chiwayland’s shares closed lower at 10.1 cents on Thursday.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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