SIP Administrative Committee and China Overseas Land and Investment Co Ltd (COLI), the real estate arm of China State Construction Engineering Corporation Limited, one of the largest construction companies in the world, signed an agreement on Mar 13 to launch strategic cooperation in real estate development, property management and operation, public utilities and other areas.

It is learnt that COLI, now running over 10 projects in SIP, boasts 40-year experience in development and operation of urban real estate projects. Its business network covers more than 80 cities in the United States, the United Kingdom, Singapore, Chinese mainland, Hong Kong and Macao. The tie-up of the two parties is expected to give full play to each other's advantages for a win-win development and give SIP a leg up in urbanization.