China is one of CapitaLand’s two core markets and the Group’s largest market outside Singapore, accounting for 39 per cent of the company’s total assets. As the company marked its 20th anniversary this month, CapitaLand Limited announced that it currently owns or manages 145 properties in 45 Chinese cities, worth over S$42 billion.
Since CapitaLand began investing in China in 1994, the business has grown into a leading real estate developer, boasting a diverse real estate portfolio of homes, offices, shopping malls, serviced residences and mixed-use developments.
With one of the largest real estate fund management businesses in China, the company has 12 private equity funds and two Singapore-listed real estate investment trusts (REITs) that hold a strong presence in China.
By the end of September 2013, CapitaLand’s China business accounted for 39 per cent, or S$14.2 billion of the Group’s total assets. Mr Lim Ming Yan, President and Group CEO of CapitaLand said: “2014 marks a significant milestone for CapitaLand. As one of the first foreign developers in China 20 years ago, we are honoured to have contributed and benefited from the country’s economic development and phenomenal urbanisation programme.”
The company has built more than 40,000 mass to high-end residential units across China, has a pipeline of over 60,000 homes and remains committed to address the housing needs to Chinese residents. 50 per cent of CapitaLand’s global staff originates from China, with over 7000 staff in the country, 95 per cent of which are local.