CapitaLand nabs three mall management contracts in China
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These expand the group’s mall footprint by another 115,000 sqm. CapitaLand Limited is accelerating its shopping mall network expansion through the recently-won management contracts with three new partnerships in China.
According to the group, its subsidiary CapitaLand Mall Asia will be adding more than 115,000 square meters of gross floor area with these deals.
In Chengdu, CapitaLand has been commissioned by Sichuan Da Yi Real Estate Co. Ltd to manage the retail component of Leshijie, an integrated development in the up-and-coming Pidu district.
In Foshan, CapitaLand will be managing the retail component of Hehua International Commercial Plaza a landmark integrated development near Foshan’s border with Guangzhou, on behalf of Hehua Shengshi (Foshan) Property Development Co. Ltd.
In Shanghai, CapitaLand will manage the retail component of Capital Square, an integrated development it is jointly developing with Shanghai Shentong Metro Group, which develops, constructs and operates railway and metro lines in the city.
“Since embarking on our mall network expansion strategy last August, we have secured six management contracts in Singapore and China to date, growing our portfolio by close to 300,000 square metres within a year,” CapitaLand Mall Asia CEO Jason Leow said.
Questions & Answers
Q.Which specific districts or areas will CapitaLand's new mall management contracts cover in China?
Which specific districts or areas will CapitaLand's new mall management contracts cover in China?
CapitaLand will manage properties in Pidu district, Chengdu; near Foshan's border with Guangzhou; and in Shanghai. These locations are part of integrated developments, including Leshijie and Hehua International Commercial Plaza.
Q.How much has CapitaLand's mall portfolio grown in total since they began their network expansion strategy last August?
How much has CapitaLand's mall portfolio grown in total since they began their network expansion strategy last August?
Since starting their network expansion strategy last August, CapitaLand has grown its portfolio by nearly 300,000 square metres. This growth includes six management contracts secured in both Singapore and China.
Q.Who are the partners for the three new mall management contracts CapitaLand has secured in China?
Who are the partners for the three new mall management contracts CapitaLand has secured in China?
CapitaLand's partners for these contracts are Sichuan Da Yi Real Estate Co. Ltd in Chengdu, Hehua Shengshi (Foshan) Property Development Co. Ltd in Foshan, and Shanghai Shentong Metro Group in Shanghai.
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