CapitaLand is one of the biggest real estate company and investors with billions of business scattered around the world but experts in Asian Market. The Group CFO talks about CapitaLand center of attention is china and Singapore. CapitaLand today is scattered in almost in 20 countries across the globe.
Arthur Lang had a long speech talking about the business and thre main focus but the main thing that he mentioned in his talk is this
” I think for Singapore and China alone today, it’s about 75-80 percent of total assets for the group. If you look at all the projects and activities we’re involved in these two countries, I think in the next five years I wouldn’t be surprised if it’s about 85 percent of our total assets and total business. Specifically if you look at China, it’s perhaps the best place to do business in Asia, with 1.3-1.4bn people; it’s a huge market. I think more importantly as well, urbanization rates in China are still relatively low compared to the developed world, it’s still in the 50 percent area.”
The company still owns 1000’s of property around china and Singapore and they are selling the Westgate Tower for S$579m. it is a seven storey Westgate mall renovated on 2013-Dec.it has more than 250 store and shops from basement to top level. The Building area is about 410000 sq ft. A building project holding firm has managed its projects, construction and all materials invests in the properties. In a talk with Singapore Stocks LKH said they now own 40 % of the Westgate Tower however Venture holds 60 % of the building at the end of the completion of the deal.