Keppel Land China has sold its interest in a residential land development to a subsidiary of Chinese developer, China Vanke, for RMB1.6bn (€208m).

The interest was held in Chengdu Shengshi Jingwei Real Estate, a subsidiary of Keppel Land in Singapore.

Keppel Land China bought the 28.7-hectare residential site in what it described as a residential enclave of Mumashan for RMB680m in 2012.

The latest divestment came after Keppel Land China sold its entire interest in another project, Chengdu Hilltop Development. for RMB1.26bn last November.

The company had said that the divestments were in line with Keppel’s Vision 2030 and plans to monetise assets which could be channelled toward new growth opportunities.

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