Hong Leong Holdings: 2nd residential project in Chengdu

SINGAPORE (Oct 2): Hong Leong Holdings announced the development of its second residential project in Chengdu, Springdale Park on Monday.

The Edge Singapore reports that the exclusive 567-unit low density housing development is expected to be completed in 2020 and an estimated RMB1.4 billion (RM844 million) has been invested in this project.

Chengdu Municipal Government’s urban development includes a strategy "to expand eastwards”, spreading the city outwards to reshape its structure and industry mix.

Springdale Park was developed in response to the strategy for the eastern suburbs, and Hong Leong Holdings says they were the first Singapore real estate developer to respond to this “eastward advancement” strategy.

The publication reports that a second airport in Chengdu is in the works by the Sichuan provincial government, in efforts to drive the development of the eastern suburbs area and open up more opportunities.

Competition is fierce, as many local and foreign companies have moved in to build supporting services and facilities, including residential projects. Lim Mian Wei, general manager (business development) of Hong Leong Holdings (China), remains confident that Springdale Park will do well.

“Similar to our first project in Chengdu, One Central, I believe that Springdale Park will be very well-received. Hong Leong Holdings has a successful track record and the success of One Central is testament to our high standards of building excellence,” says Lim.