CapitaLand marked its 20th anniversary in China at the Group’s Lunar New Year Spring Festival event held at Raffles City Convention Centre last Friday.
The celebrations will be held throughout the year with various initiatives introduced across China that will culminate in a gala event in Beijing later this year.
Since its entry in 1994, CapitaLand has established itself as China’s leading real estate developer with a diversified real estate portfolio of offices, homes, shopping malls, mixed-use developments and serviced residences.
The group owns or manages 145 properties across 45 Chinese cities worth over S$42 billion.
CapitaLand also has one of China’s biggest real estate fund management businesses, with 12 private equity funds as well as two Singapore-listed real estate investment trusts (REITS) – CapitaRetail China Trust (CRCT) and Ascott Residence Trust (Ascott Reit) – that have a strong presence in the country.
As one of the group’s two core markets and its largest market outside of Singapore, CapitaLand’s China business accounts for 39 percent or S$14.2 billion of the group’s overall assets of S$36.4 billion, excluding treasury cash as of 30 September 2013.
"2014 marks a significant milestone for CapitaLand. As one of the first foreign developers in China 20 years ago, we are honoured to have contributed and benefitted from the country’s economic development and phenomenal urbanisation programme," said Lim Ming Yan, President & Group CEO, CapitaLand.
Moving forward, he revealed that the group plans to focus its growth "in five city clusters in China: Beijing/Tianjin, Shanghai/Hangzhou/Suzhou/Ningbo, Guangzhou/Shenzhen, Chengdu/Chongqing, and Wuhan".
"These markets are an opportunity for us to harness synergies across our competencies in developing homes, offices, shopping malls, serviced residences and fund management," he added.
Image: CapitaLand executives made a celebratory toast on stage to welcome the Year of the Horse, which marks CapitaLand’s 20th anniversary in China. (Source: CapitaLand)
Christopher Chitty, Senior Content Producer at PropertyGuru edited this story. To contact him about this or other stories, email christopher@propertyguru.com.sg
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