SINGAPORE (June 28): CapitaLand, through CapitaLand Mall Asia, is accelerating its shopping mall network expansion in China with three management contracts.

These deals add more than 115,000 sqm of Gross Floor Area (GFA), excluding car park, to CapitaLand’s retail footprint and entrench the group’s presence in Chengdu, Foshan and Shanghai, which are among China’s 10 largest cities.

In Chengdu, CapitaLand has been commissioned by Sichuan Da Yi Real Estate Co. to manage the retail component of Leshijie, an integrated development in the up-and-coming Pidu district.

This follows the acquisition of CapitaMall Xinnan by CapitaLand Retail China Trust last September.

With this contract, CapitaLand’s retail footprint in Chengdu comprises seven malls. Across Western China, CapitaLand owns and manages a total of 15 malls, up from 12 malls 10 months ago.

In Foshan, CapitaLand will be managing the retail component of Hehua International Commercial Plaza, a landmark integrated development near Foshan’s border with Guangzhou, on behalf of Hehua Shengshi (Foshan) Property Development Co.

In Shanghai, CapitaLand will manage the retail component of Capital Square, an integrated development it is jointly developing with Shanghai Shentong Metro Group, which develops, constructs and operates railway and metro lines in the city.

Shares of CapitaLand closed 2 Singapore cent lower at S$3.52 on Tuesday. —

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