SINGAPORE (March 30): CWG International, the developer formerly known as Chiwayland International, has acquired a 60% stake in Suzhou Xinglun Tourism, formerly called Suzhou Industrial Park Business Travel Tourism Industry, for RMB197.18 million ($40 million).

Suzhou Xinglun Tourism owns the Suzhou Ferris Wheel Theme Park.

After the acquisition, CWG will also own two plots of land, with a total gross floor area (GFA) of 75,797 sqm, where it will build an integrated development that comprises serviced apartments, luxury residential units and retail space.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook