SIUD sells 547-acre project in China for $484m
Neo-China Land Group, a wholly owned subsidiary of Shanghai Industrial Urban Development Group, has sold the 547-acre Zhuhai Qi’ao Island Project for $484 million to De Rong Group. The island is located near Macau in the Guangdong province in southern China. The project totals more than 23.85 million square feet, which will be developed into a mixed-use complex comprising commercial property and residential villas. Construction work for the project has not yet begun.