Shopping mall developer CapitaMalls Asia is acquiring its third mall in Wuhan, China. On a completed basis, the investment cost of the shopping mall is expected to be about S$228.3 million (RMB1,156 million/HK$1,413.5 million) The developer had acquired the mall from a subsidiary of a state-owned construction enterprise, China Railway Construction Corporation Limited (CRCC). Scheduled to be completed in...
CapitaMalls Asia
Shopping mall developer CapitaMalls Asia has added two new malls in Qingdao, China and Japan worth a total of S$662.2 million to strengthen its presence in the region. CapitaMalls announced on Monday that it signed an agreement to acquire a site to develop its first shopping mall in Qingdao, China. It was acquired from Qingdao Vanke City Real Estate Co. Ltd and Qingdao Shuangshan Gongmao Co. Ltd. The...
Shopping mall developer CapitaMalls Asia has posted S$232 million in net profit for the second quarter of the year, up 40.7 per cent from the same period last year. CapitaMalls Asia attributed the rise in net profit to portfolio gains from its injection of two of its China assets into a private fund, as well as contributions from newly-acquired properties in Japan and China. Group revenue for the three...
CapitaMalls Asia, the shopping mall arm of CapitaLand, has set up a US$1 billion private equity fund to invest in malls in China. According to a filing with the Singapore Exchange, CapitaMalls Asia said the new fund - CapitaMalls China Development Fund III - has a fund life of eight years. CapitaMalls will hold a 50 per cent stake in the fund amounting to US$500 million, with institutional investors from...
CapitaMalls Asia Limited and Suzhou Industrial Park Jinji Lake Urban Development Co., Ltd (SIPJUD) announced today that they marked a key milestone by breaking ground for the largest shopping mall in East China. Owned by the Suzhou Industrial Park (SIP) government, SIPJUD is the master developer of the SIP Central Business District (“CBD”), known as the Suzhou Centre. The ground-breaking ceremony of...
CapitaMalls Asia and Sime Darby Property will jointly develop a shopping mall in Klang Valley, Malaysia. The companies said they have entered into a conditional agreement to form a 50-50 joint venture to develop the mall on a freehold site in Taman Melawati. The total development cost is expected to be about RM500 million (S$204.5 million). Upon completion. the mall will have a total net lettable area of...
Singapore shopping mall developer CapitaMalls Asia posted profit after tax of S$66.8 million for the first quarter of its fiscal year, up 36 per cent from the S$49.1 million reported last year. In a stock exchange filing, the company said its revenue rose 41 per cent to S$70.9 million from S$50.2 million in the same period last year. This was mainly due to the contributions from its three newly acquired...
CapitaMalls Asia said it has acquired the remaining 73.71 percent stakes each in La Park Mizue in Tokyo, Izumiya Hirakata in Osaka and Coop Kobe in Kobe. The acquisition price for the three shopping malls was about S$217.4 million. This represents a 16.9 percent discount to the malls' latest valuations as at December 2011. CapitaMalls Asia, the retail arm of Southeast Asia's biggest developer...
Singapore shopping mall developer CapitaMalls Asia has reported a net profit of S$205.4 million for its fourth quarter ended December - up 42.6 per cent from the previously-reported S$144 million last year. In a stock exchange filing, the company said revenue grew S$66.3 million from S$55.2 million in the same period last year, driven by strong growth in markets like Singapore, China and Malaysia. In...
A consortium led by CapitaLand is pumping in 21 billion yuan (S$4.3 billion) into developing a prime site in Chongqing, China. It has signed a cooperation agreement with the Chongqing government. Under the deal, the CapitaLand-led consortium will develop the site in the heart of Chongqing's Yuzhong District into a landmark mixed development. The development, located on a prime site in Chaotianmen, will...