To drive earnings, CapitaLand focuses on building integrated and mixed-use projects, particularly in China, reported the media.
The property developer revealed it sees various opportunities in this space, be it in Singapore, China or other Southeast Asian cities. In fact, it targets to develop 12 integrated projects across the region over the next three years, of which six will be located in China.
“Integrated developments are by nature, larger projects, and they are also much harder to execute because this requires expertise across the different asset classes,” said Lim Ming Yan, President and Group CEO of CapitaLand.
“CapitaLand has done many of these projects and I think we are in a much stronger position to undertake integrated developments.”
In China, competition for mixed-use sites is relatively lower and provide better margins compared to pure residential sites, noted Lucas Loh, CEO of CapitaLand China.
The property developer has built four integrated Raffles City projects in Beijing, Shanghai, Ningbo and Chengdu.
Four other Raffles City projects in Shenzen, Hangzhou, Changning and Chongqing (pictured) are expected to be completed over the next three to four years.
Image source: rafflescity.com.cn
Muneerah Bee, Senior Journalist at PropertyGuru, edited this story. To contact her about this or other stories email muneerah@propertyguru.com.sg
