Southeast Asia’s largest property developer, CapitaLand, will continue to venture into China, despite the central government’s property cooling measures.
Lim Ming Yan, CapitaLand’s Chief Operating Officer, said the company will maintain a balance between residential and commercial projects. He noted that the firm needs residential projects for liquidity and commercial investment properties for longer-term holdings.
“We are always looking for good investment opportunities, whether it’s good times or bad times. In the current market situation, we will continue to be on the lookout for good opportunities. It’s getting more attractive.”
Lim said the Chinese government is unlikely to relax restrictions on the residential property market before the first half of 2012.
James Macdonald, Head of Research for Savills Property Services (Shanghai) Co, said, “A lot of these developers see China as a long-term play. When they are talking about investing in China, maybe buying land and then developing it, that normally takes three or four years to be completed. A lot of things can change.”
Lim said in an interview in June that CapitaLand aims to double its China portfolio over the next five years, as the company expects the economy to expand over the next decade.
To contact the journalist, you may send your message to editor@propertyguru.com.sg