CapitaLand to build Raffles City in China

CapitaLand plans to construct Raffles City Shenzhen, a $1.25-billion commercial-cum-residential project, in the southern Chinese city of Shenzhen.

It will be the first integrated development of CapitaLand in Shenzhen under the Raffles City branding.

The development, which is located in Nanshan District, has a land area of about 53,000 sq m and a gross floor area of around 237,500 sq m. It will comprise a shopping mall, a Grade A office tower and a hotel or serviced residence component.

The completion of Raffles City Shenzhen is expected in phases from 2014.