China's largest residential developer China Vanke will spend 135.5 million Singapore dollars ($109.3 million) acquiring a 30 percent stake in a residential development project in Singapore, its strategic partner Keppel Land Limited, said on April 16.

Vanke said it is the company's first investment in Singapore.

Keppel Land and Vanke have entered into a strategic partnership that will see both companies jointly develop properties in Singapore and China, Keppel Land said.

Vanke, through a wholly-owned subsidiary, will acquire the 30-percent stake in a condominium development project in Tanah Merah in eastern Singapore from a subsidiary of Keppel Land, which was awarded the residential site for 434.55 million Singapore dollars ($348.84 million) in October last year.

Keppel Land said it was looking forward to the strategic partnership to help grow its businesses in China as Vanke has operations in almost all big cities in China.

The project, comprising 726 residential units, is expected to be launched in the second half of 2013.