CapitaMalls Asia to expand with more malls

PropertyGuru

22 May 2011 at 12:00 pm

CapitaMalls Asia (CMA), a wholly-owned subsidiary of CapitaLand, is eyeing at least seven malls by end-2011, in line with its plan to purchase another S$2 billion worth of new projects this year, as well as to expand its S$24.1 billion global portfolio to 100 properties.

The spotlight has shifted onto the China market, which comprises 70 percent of CMA's share of its portfolio in terms of gross floor area (GFA), ahead of Singapore's 20 percent share.

"We started to grow a lot of our shopping malls, maybe a bit too early in 2004, 2005 but we are seeing the results coming through. In the next two, three years, China will have a bigger base and from there, we can launch to grow even further," said Mr. Lim Beng Chee, Chief Executive of CMA.

According to reports, CMA will be launching its 3rd Generation (3G) malls concept this year in order to accelerate its growth. Standardised building designs will be utilised to slash costs and reduce construction time from three to two years.

"The concept involves a common tenant mix and layout, which will also make it easier to negotiate the lease of multiple locations at one go," said Chan Kong Leong, CMA's general manager for West China.

The group is also considering focusing on the mass market segment, due to its flexibility and the economies of scale it creates.

Euromonitor market research estimates showed that the number of malls in China now stands at 1,200, with up to 150 malls developed each year for the past eight years.

To contact the journalist, you may send your message to editor@propertyguru.com.sg

The Telegraph
Beauty queen shot dead after octopus ceviche order led killers to restaurant
An Ecuadorian beauty queen was assassinated after her Instagram post of a plate of octopus ceviche led gunmen to the restaurant where she was dining.
The Telegraph
Australian MP drugged and sexually assaulted on night out
Australian police have launched an investigation after Queensland MP Brittany Lauga said she was drugged and sexually assaulted.
HuffPost
'She Was So Rude, My Family Is No Longer Allowed To Listen To Her Music': 34 Of The Absolute Best And Worst Celebrities People Have Ever Met
"I went to shake her hand, and she looked me up and down and said, 'I don't shake hands,' then walked away."
The Independent
Dua Lipa speaks out on ‘humiliating’ experience after viral meme of her dancing
‘It was humiliating. I had to take myself off Twitter,’ the singer shared saying it had taken ‘years’ to get over
CNN
China’s Shaolin monks are known for their incredible acrobatics. This photographer captured them in action
The photographer reflects on how he took the memorable shot back in 2004, in one of the martial arts academies that had sprung up near the Shaolin Temple.
INSIDER
I started having sex at 36. I missed out on years of self-discovery but I still don't regret waiting.
I didn't grow up religious but I subscribed to the purity plan. I feel inadequate when I started having sex with my partner.
Evening Standard
Man City: Pep Guardiola explains Erling Haaland touchline incident after substitution
Norwegian was visibly unhappy despite four-goal haul vs Wolves
People
Rumer Willis Praises Mom Demi Moore's 'Bangin'' Bikini Body
"If my genetics are at least half that good, I'm solid," said Willis of her mother's "bangin'" body
The Independent
Marvel boss warned Hugh Jackman not to return as Wolverine in Deadpool 3
Actor is reprising the role for the 10th time opposite Ryan Reynolds
People
Heartbreaking Story Behind Dad Who Added Daughter's Necklace to Headstone After His 3 Kids Were Killed (Exclusive)
Ray Simmons dedicates himself to maintaining the resting place of his son Christopher, 16, and daughters Kamryn, 15, and Lindy, 20
SETHLUI.COM
Northern Thai: Delicious ‘creamy’ tom yum by Thai superwoman worth the queue
The post Northern Thai: Delicious ‘creamy’ tom yum by Thai superwoman worth the queue appeared first on SETHLUI.com.
SETHLUI.COM
32 best restaurants in Singapore you need to cross off your list
The post 32 best restaurants in Singapore you need to cross off your list appeared first on SETHLUI.com.
INSIDER
Ukraine highlights Russia's 'line of hell.' Claim of dozens of tanks and military vehicles destroyed on one sector of the Donetsk front.
Fighting has intensified in the Donetsk region in recent months as Russia pushes to take more ground around Avdiivka.
Barrons.com
‘We Lost Quite a Bit of Money.’ Berkshire Sold Entire Paramount Stake, Buffett Says.
Berkshire Hathaway has sold its entire stake in Paramount Global losing “quite a bit of money,” Berkshire CEO Warren Buffett said at the company’s annual meeting on Saturday. Buffett also shot down speculation that Ted Weschler or Todd Combs, who together run about 10% of Berkshire Hathaway’s equity portfolio, had purchased the Paramount stake, taking responsibility for the investment himself. “It was 100% my decision and we’ve sold it all and we lost quite a bit of money,” said Buffett.
Evening Standard
Declan Rice makes mockery of Arsenal price tag after Mikel Arteta masterstroke
England midfielder transformed as he delivers another man-of-the-match display in Bournemouth win
SETHLUI.COM
13 best food spots in Holland Village you should visit while you’re at this culinary gem
The post 13 best food spots in Holland Village you should visit while you’re at this culinary gem appeared first on SETHLUI.com.
The Guardian
‘Ghostly’: Taiwan park dotted with hundreds of statues of late dictator as row rages over their fate
Tributes that were removed from public spaces after the end of Chiang Kai-shek’s brutal rule in 1975 now crowd a site west of Taipei
INSIDER
A boomer retired early, sold everything, and moved to Turkey. She pays just $500 for basic monthly bills and Social Security more than covers it.
"You don't need millions to retire," Debra Crockett said. She found out she could live comfortably abroad with a very low budget and has no regrets.
Yahoo Life UK
My boyfriend dumped me after I cured his sex problem
Their sex life was blighted by his erectile dysfunction, but 10 months later, with the issue solved, he left her to play the field.
Sky News
Bodies found in search for Australian brothers and US man missing on Mexico surfing trip
Bodies have been found in the search for two Australian brothers and a US tourist who went missing in northern Mexico. The remains were found south of Ensenada, near where the men - Jake and Callum Robinson from Australia and American Jack Carter Rhoad - went missing last weekend. The location where the bodies were recovered, close to the town of Santo Tomas in Baja California state, is near where the men went missing, Mexican authorities said.

Latest stories