CapitaLand’s Raffles City Chengdu launched
Two workers look out from the shell of a new building at a construction site in the city of Chengdu in Sichuan Province in this file photo. CapitaLand Ltd today launched its Raffles City Chengdu. – Reuters picSINGAPORE, Sept 3 – CapitaLand Ltd today launched its Raffles City Chengdu, the fourth ‘Raffles City’ development in the group’s international portfolio.
Singapore’s Prime Minister Lee Hsien Loong, Wei Hong (member of the standing committee of the Communist Party of China provincial committee and deputy governor of Sichuan Province), Ng Kee Choe (CapitaLand chairman) and Liew Mun Leong (CapitaLand president/chief executive officer) attended the inauguration.
Raffles City Chengdu sits in the heart of Chengdu’s international business district.
Liew, who is also chairman of CapitaLand China executive committee, said the company was pleased to be closely-linked to the development of China’s business and urban landscape since we first entered the market 18 years ago.
“China is one of CapitaLand’s core markets, accounting for 41 per cent of the group’s total assets.
“To date, CapitaLand owns over 120 projects with assets totalling S$13.7 billion (RM34.16 billion) in China,” he said.
He said in the first half of this year, the company committed S$2.4 billion of new investments, of which 34 per cent was focused in China.
“We are confident of China’s potential as the world’s fastest growing economy. It is also well-positioned to leverage the strong bilateral economic ties between Singapore and China,” he said.
The listed entities of the CapitaLand Group include Australand, CapitaMalls Asia, CapitaMall Trust, CapitaCommercial Trust, Ascott Residence Trust, CapitaRetail China Trust, CapitaMalls Malaysia Trust and Quill Capita Trust. – Bernama
