CapitaLand, Singapore property developer ‘confident’ of China properties

2 min read
Capitaland China
Suzhou Centre is an integrated development comprising a shopping mall, luxury residences, four office towers and a hotel. CapitaLand co-owns the shopping mall and two of the office towers with Suzhou Industrial Park Jinji Lake Urban Development in a joint venture. Credits: CapitaLand

Property developer CapitaLand said business for its mall tenants has improved and it expects record home sales in the mainland this year.

In spite of a slowdown in Chinese economic growth, Singapore property developer CapitaLand said it expects record home sales this year for projects in the mainland.

Tenants at its malls in China have seen sales improve by 9 per cent year on year, it added.

“We are still confident about China… The key thing underpinning our optimism in China is urbanisation trends and its large (population), CapitaLand China chief executive Lucas Loh said, according to The Straits Times.

China accounts for about $21.4 billion or 46 per cent of the group’s total assets. This is more than the $17.4 billion or 37 per cent in Singapore.

President and group chief executive officer Lim Ming Yan said that company is comfortable if the proportion of assets in China goes up to 50 per cent.

CapitaLand has also opened a slate of 54 malls in China, with 10 more on the way.

CapitaLand Mall Asia head of regional investment, asset and fund management Chan Kong Leong said sales growth by tenants has been in the high single digits across all cities.

Read The Straits Times for more.

Looking to sell your property?

Whether your HDB apartment is reaching the end of its Minimum Occupation Period (MOP) or your condo has crossed its Seller Stamp Duty (SSD) window, it is always good to know how much you can potentially gain if you were to list and sell your property. Not only that, you’ll also need to know whether your gains would allow you to right-size to the dream home in the neighbourhood you and your family have been eyeing.

One easy way is to send us a request for a credible and trusted property consultant to reach out to you.

Alternatively, you can jump onto’s Property Value Tool to get an estimate for free.

If you’re looking for your dream home, be it as a first-time or seasoned homebuyer or seller – say, to upgrade or right-size – you will find it on Singapore’s fastest-growing property portal

Meanwhile, if you have an interesting property-related story to share with us, drop us a message here — and we’ll review it and get back to you.

Join our social media communities!

Main Facebook page
Facebook #All Things HDB page
Facebook #Condo-Maniacs page
Facebook #UHNWIs Luxury Homes page
Instagram Main
Instagram #HouseInsights
Instagram #HouseTips
TikTok Main
TikTok #HouseTips

Reader Interactions

Leave a comment

Your email address will not be published. Required fields are marked *

Get the latest news in your inbox

  • This field is for validation purposes and should be left unchanged.