Channel NewsAsia

Singapore-Nanjing project gaining traction with investors

The Singapore-Nanjing Eco High Tech Island project in the Chinese city has sold about 15 per cent of its offerings, with investors from around the world continuing to show interest.

NANJING, CHINA: A joint Singapore-Nanjing development in the Chinese city, which combines residential, industrial and commercial functions, has been gaining traction with investors. The Singapore-Nanjing Eco High Tech Island project has sold about 15 per cent of its offerings, with investors from around the world continuing to show interest.

Singapore's President Tony Tan Keng Yam was given a tour of the 15-square kilometre site, as part of his two-day visit to Nanjing. About half the island is being developed, while the rest has been set aside for nature reserves and greenery.

There are also plans to implement a next-generation transport system, which would ensure seamless travel for both pedestrians and motorists. It is hoped the project, spearheaded by Singapore companies Yanlord and Sembcorp as well as the Nanjing government, will eventually be a model for sustainable development.

Yanlord Chairman, Zhong Sheng Jian, said: "The development has gone smoothly over the past two years. One main issue was getting the support of the island's residents. But they can now see we have taken the island from being underdeveloped marshland, to an eco-friendly, picturesque environment."

When the project is completed in 2020, investment would have reached some S$2.1 billion. The sum goes towards realising a work, live and play environment, which would also churn up some 100,000 new jobs for local residents, some of whom were resettled due to construction.

Before leaving Nanjing, President Tan also made it a point to cheer Team Singapore on at the Youth Olympic Games. He watched Singapore shuttler Bernard Ong's opening singles group stage match against South Korea. Despite the show of support, Ong fell in straight games 21-12, 21-11. But he still has two more matches to go in his group to seal qualification to the next round.