CapitaLand, Southeast Asia’s biggest developer, agreed to buy the Chinese property assets of Orient Overseas for $2.2bn, doubling its real estate holdings in the world’s most-populous nation.

The purchase of the Orient Overseas Developments Ltd. unit includes seven sites in Shanghai, Kunshan and Tianjin, with about 1.48m sq m of floor space, the Singapore- based developer said in a statement after markets closed yesterday. About half is residential and the rest is office, retail and hotel space, CapitaLand said.