The Urban Redevelopment Authority (URA) has accepted a joint tender for the Jurong Gateway site at a tender price of nearly S$969 million from CapitaMall Trust, CapitaMalls Asia and CapitaLand. The 99-year leasehold site is likely to be developed into a mixed retail and office space. It has a land area of approximately 18,159 square metres, with a maximum permissible total gross floor area of 88,980...
CapitaMalls Asia
CapitaMalls Asia (CMA) is planning to acquire at least seven more malls by the end of the year, to grow its S$24.1-billion global portfolio to 100 properties. This is in line with plans to acquire another S$2 billion worth of new projects this year. All eyes are on the growth of the Chinese market, which makes up the lion's share of the portfolio in terms of gross floor area (GFA) at 70 per cent, ahead of...
Shopping mall developer and operator CapitaMalls Asia has signed an agreement with Japan's PARCO to explore business collaborations in China and Japan. PARCO owns 20 malls in key Japanese cities including Tokyo, Osaka, Nagoya, Fukuoka and Sapporo. It also manages one property in Singapore's Marina Bay area. CapitaMalls Asia has been bringing Japanese retailers to its other markets outside Japan. It...
Shopping mall developer and operator CapitaMalls Asia says it has submitted an application for a secondary listing on the mainboard of the Hong Kong Stock Exchange. CapitaMalls says the secondary listing will complement its China expansion strategy and enable the company to achieve its longer-term strategic objectives. China currently accounts for 37 percent of CapitaMalls Asia's total property portfolio...
Shopping mall developer and operator CapitaMalls Asia said its fourth quarter net profit fell 15.2 per cent due to lower contributions following the divestment of several properties earlier in 2010. Net profit for the last quarter ended Dec 31 fell to S$144 million from S$169.9 million a year ago. CapitaMalls Asia also reported a drop in revenue by some 16.5 per cent on-year to S$55.2 million for the...
CapitaMalls Asia said its unit's S$200 million bonds offering was 1.82 times oversubscribed. In a filing to the Singapore Exchange, the firm said there was strong interest from retail investors, with total applications coming up to about S$181.7 million. The one-year and three-year bonds will be issued on Friday and are expected to list on the Mainboard on January 24. The one-year bonds carry interest...
A unit of CapitaMalls Asia will sell up to S$200 million in bonds to retail investors to fund its investments. Part of the funds raised will also be for general corporate purposes, the shopping mall developer said in a filing to the Singapore Exchange. CapitaMalls Asia Treasury also announced that it will sell one-year bonds carrying an interest coupon of 1 per cent a year. In addition, it will also sell...
CapitaMalls Asia is acquiring Penang's largest mall -- Queensbay Mall -- for RM658.3 million (S$275.6 million). It will be the firm's second mall in Penang and its fourth in Malaysia. The acquisition will be carried out through CapitaMalls Asia's subsidiaries with an asset-backed securitisation structure, the company said. CapitaMalls Asia will acquire 90.7 per cent of the Queensbay Mall's retail strata...
Rising consumerism fuelling demand for more quality malls It is a typical evening after work - groups of fashionably-dressed office women walk into a ZARA store for some retail therapy and to de-stress after a hard day's work. After trying the latest in women's fashion, they walk out with happy smiles and paper bags of their purchases in hand. This scene is played out every night - except that it is not...
CapitaMalls Asia (CMA) said it has entered into an agreement to obtain a two-third stake in a S$747.2 million property project in Shanghai. It said the shopping mall and office project in the Luwan district is expected to be completed by 2015. CMA said the shopping mall would be well-positioned to serve affluent residents as well as working professionals in the area. It added the proposed investment was...