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China Vanke, Surbana Jurong to build industrial towns in China

Diversified real estate company China Vanke Co. Ltd. unit Vanke Industrial Town Midwest signed a memorandum of understanding with Asia-based urban, industrial and infrastructure consulting firm Surbana Jurong Pvt. Ltd. to co-develop new industrial towns in the midwestern regions of China, The (Singapore) Business Times reported.

The two companies plan to combine industrial developments with urban living and will start working together on Vanke's Jianzhou Dream Town in Chengdu, which will be designed by Surbana Jurong.

The parties will also consider forming a joint venture, according to the publication.