SINO Land, China Overseas Land and Investment, and DBS Land have arranged a $285 million bank loan to pay for a property development at Kau To Shan, Sha Tin. The loan agreement was signed last Friday by Perfect Paradise International, a joint development company owned by Sino, China Overseas and DBS Land, with the Development Bank of Singapore, Wing Lung Bank and Tat Lee Bank. The loan will be used to develop Sha Tin Kau To Shan Lot 98, which was bought by the companies this year at a government land auction. The development will comprise 36 blocks of three-storey deluxe villas, measuring about 2,700 square feet each. Sino, China Overseas and DBS Land hold an attributable interest of 50 per cent, 25 per cent and 25 per cent, respectively, in the project.