CapitaLand

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CapitaLand Limited
Public company
Traded asSGX: C31
OTC Pink: CLLDY
Industry
Predecessors
  • DBS Land
  • Pidemco Land
Founded28 November 2000; 19 years ago (2000-11-28)[1]
HeadquartersSingapore
Key people
  • Ng Kee Choe (Chairman)[2]
  • Lee Chee Koon (Group Chief Executive Officer)[3]
ParentTemasek Holdings
Websitecapitaland.com

CapitaLand Limited is a Singaporean multinational alternative asset management company focusing on real estate, infrastructure and private equity. Headquartered and listed in Singapore, it is one of Asia's largest real estate companies and is the owner and manager of a global portfolio comprising integrated developments, shopping malls, lodging, offices, homes, real estate investment trusts (REITs) and funds.

Present across more than 200 cities in over 30 countries, the company focuses on Singapore and China as its core markets while it continues to expand in markets such as India, Vietnam, Australia, Europe and the USA. The company also has one of the largest investment management businesses globally, and a stable of seven listed real estate investment trusts (REITs) and business trusts, as well as over 20 private funds. Since it pioneered REITs in Singapore with the listing of CapitaLand Mall Trust in 2002, CapitaLand’s REITs and business trusts have expanded to include Ascendas Real Estate Investment Trust, CapitaLand Commercial Trust, Ascott Residence Trust, CapitaLand Retail China Trust, Ascendas India Trust and CapitaLand Malaysia Mall Trust.[1]

History[edit]

On 12 July 2000, DBS Land (DBSL) and Pidemco Land announced a merger to form a company eventually owning about $18 billion in assets, making it the largest listed property company in Southeast Asia when completed.[4][5] Although this followed a new measure imposed by Monetary Authority of Singapore to separate financial and non-financial activities of banking groups on 21 June 2000,[6] DBS Bank had already divested most of its investments in DBSL and was holding 5.4% of DBSL, well below the 20% shareholding threshold for non-core banking activities under the new measure.[7] More details of the merged entity were given on 31 July 2000.[8] Named as CapitaLand on 6 September 2000,[9] the merger was approved by shareholders on 18 October 2000[10] and was thus officially launched on 28 November 2000.[1]

On 13 September 2012, CapitaLand announced that it was listed on the Dow Jones Sustainability Asia Pacific Index in recognition of its sustainability efforts. It has been listed on the Index since then.[11]

On 14 January 2019, the Group announced that it would acquire Ascendas-Singbridge, a real estate group, from Temasek Holdings in an S$11b deal,[12][13][14] which is approved by 90% of shareholders on 12 April 2019.[15] The acquisition was completed on 30 June 2019.[16]

On 20 February 2019, CapitaLand said that its 2018 net profit jumped 12.3%, the highest in a decade.[17]

On 3 July 2019, it announced that Ascott Residence Trust (Ascott Reit) and Ascendas Hospitality Trust would be merged, forming Asia's largest hospitality trust with S$7.6b in combined assets.[18] This comes after the successful acquisition of Ascendas-Singbridge on 30 June 2019.[19]

Group structure[edit]

Real Estate Investment Units

  • CapitaLand Singapore[20]
  • CapitaLand China[21]
  • CapitaLand Japan[22]
  • CapitaLand Indonesia[23]
  • CapitaLand Vietnam[24]
  • CapitaLand International[25]

Global Operating Platforms

CapitaLand Investment Management[29]

CapitaLand has an Investment Management business that explores opportunities with the Group's business units to grow its private vehicles platform. It currently manages 16 real estate private vehicles.

Notable projects[edit]

CapitaLand’s portfolio spans across diversified real estate classes which includes commercial, retail; business park, industrial and logistics; integrated development, urban development; as well as lodging and residential.

Integrated developments[edit]

CapitaLand's integrated developments include ION Orchard and The Orchard Residences, Ascott Orchard Singapore and Cairnhill Nine, as well as Raffles City, its flagship brand of integrated developments. Pioneered in Singapore with the opening of Raffles City Singapore in 1986, there are now nine other Raffles City developments in seven gateway cities in China, including Raffles City Chongqing. Current projects of CapitaLand in Singapore also include CapitaSpring (comprising an office tower and serviced residence), a 280m tall skyscraper in Raffles Place.

Shopping malls[edit]

CapitaLand's retail portfolio spans Singapore, China, Malaysia, Japan, Cambodia and Vietnam. In Singapore, its 19 malls include Bedok Mall, Bugis Junction, Bugis+, Funan, IMM, ION Orchard, JCube, Plaza Singapura, Raffles City Singapore, Westgate, Jewel Changi Airport and Junction 8.[30] It owns 51 malls in China, including CapitaMall Xizhimen in Beijing, CapitaMall Hongkou in Shanghai and Raffles City Shanghai, CapitaMall SKY+ in Guangzhou, Suzhou Center, and Raffles City Chongqing. Its portfolio in Malaysia and Japan includes Gurney Plaza and Queensbay Mall in Penang, Malaysia; and Olinas Mall and La Park Mizue in Tokyo.

In June 2019, CapitaLand, partnering with City Developments Limited (CDL), acquired Liang Court from mall operator AsiaMalls, an entity linked to PGIM Real Estate, for S$400 million. Before co-owning the mall with CDL, CapitaLand, via Ascott Residence Trust, owned and managed Somerset Liang Court Singapore, attached to Liang Court mall.[31]

In November that same year, CapitaLand sold The Star Vista to co-owner Rock Productions for US$217 million.[32] Currently, Rock Productions, owned by New Creation Church, is exploring possibilities for CapitaLand to continue operating and managing the mall on its behalf.[33]

List of CapitaLand malls (as of January 2020)
Singapore Malaysia China Japan Cambodia Vietnam
Bedok Mall Sungei Wang, KL CapitaMall Crystal, Beijing Vivit Minami-Funabashi The Peak Faifo Lane
Bugis Junction Melawati Mall, KL CapitaMall Grand Canyon, Beijing Coop Kobe Nishinomiya Higashi The Oxygen
Bugis+ The Mines, KL CapitaMall Shuangjing, Beijing Seiyu & Sundrug, Saitama
Bukit Panjang Plaza East Coast Mall, Kuantan CapitaMall Taiyanggong, Beijing La Park Mizue, Tokyo
Clarke Quay 3 Damansara, Petaling Jaya CapitaMall Tiangongyuan, Beijing Olinas Mall, Tokyo
Funan Queensbay Mall, Penang CapitaMall Wangjing, Beijing
IMM Gurney Plaza, Penang CapitaMall Xizhimen, Beijing
ION Orchard Raffles City Beijing
JCube CapitaMall ONE, Changsha
Jewel Changi Airport CapitaMall Yuhuating, Changsha
Junction 8 CapitaMall Jinniu, Chengdu
Liang Court (To be replaced) CapitaMall Leshijie, Chengdu
Lot One Shoppers' Mall CapitaMall Meilicheng, Chengdu
Plaza Singapura CapitaMall Tianfu, Chengdu
Raffles City Singapore CapitaMall Xinnan, Chengdu
Singpost Centre Raffles City, Chengdu
Tampines Mall Raffles City Chongqing
The Atrium @ Orchard CapitaMall Peace Plaza, Dalian
Westgate CapitaMall 180, Foshan
CapitaMall SKY+, Guangzhou
Rock Square, Guangzhou
THE GRAND CITY, Guangzhou
Raffles City Hangzhou
CapitaMall Aidemengdun, Harbin
CapitaMall Xuefu, Harbin
CapitaMall Saihan, Huhhot
Yuquan Mall, Huhhot
CapitaMall Fucheng, Mianyang
Raffles City Ningbo
CapitaMall Xinduxin, Qingdao
CapitaMall Rizhao, Rizhao
Alibaba Shanghai Center, Shanghai
Capital Square, Shanghai
CapitaMall Hongkou, Shanghai
CapitaMall LuOne, Shanghai
CapitaMall Minhang, Shanghai
CapitaMall Qibao, Shanghai
Raffles City Changning, Shanghai
Raffles City Shanghai
Raffles City The Bund, Shanghai
Raffles City Shenzhen
Suzhou Center, Suzhou
CapitaMall TianjinOne, Tianjin
Tianjin Int'l Trade Center, Tianjin
CapitaMall 1818, Wuhan
CapitaMall Minzhongleyuan, Wuhan
CapitaMall Westgate, Wuhan
CapitaMall Wusheng, Wuhan
CapitaMall Xindicheng, Xi'an
CapitaMall Yujincheng, Xi'an
CapitaMall Erqi, Zhengzhou

Lodging[edit]

The Ascott Limited, a wholly owned subsidiary of CapitaLand, pioneered Asia Pacific's first international-class serviced residence with the opening of The Ascott Singapore in 1984. In 2006, it established the world's first Pan-Asian serviced residence REIT, Ascott Residence Trust. Today, the company's serviced residence brands include Ascott, Citadines, Somerset, Quest, The Crest Collection and Lyf. It has more than 600 properties in over 160 cities across more than 30 countries in the Americas, Asia Pacific, Europe, the Middle East and Africa.

Offices[edit]

CapitaLand's commercial spaces include Grade A offices and integrated developments across Singapore, China, Germany, Japan and Vietnam. Commercial office buildings in CapitaLand's portfolio include Asia Square Tower 2, Capital Tower,[34] CapitaGreen,[35] CapitaSpring (an upcoming 280m skyscraper in Raffles Place), Six Battery Road,[36] One George Street and Raffles City Tower in Singapore; Capital Square and Innov Center in Shanghai, China, as well as Main Airport Center and Gallileo in Frankfurt, Germany.

Homes[edit]

CapitaLand's residential developments include The Interlace,[37] d’Leedon, Sky Vue and Sky Habitat. Their latest foray include the redevelopment of the old Pearl Bank Apartments into the iconic One Pearl Bank.[38] CapitaLand's homes can be found in Singapore, China, Indonesia, Malaysia and Vietnam.

References[edit]

  1. ^ a b c "Official Launch Of CapitaLand Group". CapitaLand. 28 November 2000. Retrieved 29 June 2019.
  2. ^ "Board". CapitaLand. Archived from the original on 1 December 2017. Retrieved 23 November 2017.
  3. ^ "CapitaLand Management". CapitaLand. Archived from the original on 27 June 2018. Retrieved 7 December 2018.
  4. ^ "Leading Property Companies Pidemco Land Limited and DBS Land Limited Announce Plans to Merge". CapitaLand. 12 July 2000. Retrieved 7 September 2019.
  5. ^ Webb, Sara (13 July 2000). "DBS Land, Pidemco Plan Merger To Create Huge Property Group". Wall Street Journal. Retrieved 7 September 2019.
  6. ^ "New MAS Measures To Separate Financial And Non-financial Activities Of Banking Groups". www.mas.gov.sg. 21 June 2000. Retrieved 9 November 2019.
  7. ^ "DBS supports MAS Directives to limit Bank non-core activities". www.dbs.com. 21 June 2000. Retrieved 9 November 2019.
  8. ^ "CapitaLand Limited - News - Pidemco Land and DBS Land Announce Senior Management Designates and Set Strategic Targets for Proposed Merged Group". investor.capitaland.com. 31 July 2000. Retrieved 9 November 2019.
  9. ^ "CapitaLand Limited - News - Name of Proposed Merged Entity to be CapitaLand". investor.capitaland.com. Retrieved 9 November 2019.
  10. ^ "Pidemco Land to merge with DBS Land to create CapitaLand". CapitaLand. 18 October 2000. Retrieved 7 September 2019.
  11. ^ "CapitaLand recognised as global sustainability leader by Dow Jones Sustainability Index 2012/2013 Singapore" (PDF). CapitaLand. 13 September 2012. Retrieved 24 September 2019.
  12. ^ "CapitaLand and Ascendas-Singbridge in S$11-billion deal to create Asia's largest diversified real estate group". CapitaLand. 14 January 2019. Retrieved 1 March 2019.
  13. ^ "CapitaLand to buy real estate group Ascendas-Singbridge from Temasek in S$11b deal". Channel NewsAsia. 14 January 2019. Retrieved 1 March 2019.
  14. ^ "CapitaLand to buy Temasek unit Ascendas-Singbridge in $11b deal, creating Asia's biggest diversified real estate group". The Straits Times. 14 January 2019. Retrieved 7 June 2019.
  15. ^ "CapitaLand shareholders cast resounding vote of over 90% in favour of transformational transaction to acquire the business of Ascendas-Singbridge". CapitaLand. 12 April 2019. Retrieved 20 August 2019.
  16. ^ "CapitaLand completes $11b acquisition of Ascendas-Singbridge, to operate as unified entity from July 1". The Straits Times. 30 June 2019. Retrieved 3 July 2019.
  17. ^ "CapitaLand's 2018 net profit jumps 12% to 10-year high". Channel NewsAsia. Retrieved 21 February 2019.
  18. ^ "FAQs - Ascott Residence Trust and Ascendas Hospitality Trust enter combination deal | CapitaLand". www.capitaland.com. Retrieved 15 July 2020.
  19. ^ "CapitaLand to merge Ascott Reit, Ascendas unit to form Asia-Pacific's largest hospitality trust with $7.6b in assets". The Straits Times. 3 July 2019. Retrieved 20 August 2019.
  20. ^ "CapitaLand Singapore | CapitaLand". www.capitaland.com. Retrieved 14 August 2018.
  21. ^ "CapitaLand China | CapitaLand". www.capitaland.com. Retrieved 14 August 2018.
  22. ^ "CapitaLand Japan | CapitaLand". www.capitaland.com. Retrieved 14 August 2018.
  23. ^ "CapitaLand Indonesia | CapitaLand". www.capitaland.com. Retrieved 14 August 2018.
  24. ^ "CapitaLand Vietnam | CapitaLand". www.capitaland.com. Retrieved 14 August 2018.
  25. ^ "CapitaLand International | CapitaLand". www.capitaland.com. Retrieved 14 August 2018.
  26. ^ "CapitaLand Retail | CapitaLand". www.capitaland.com. Retrieved 14 August 2018.
  27. ^ "CapitaLand Commercial | CapitaLand". www.capitaland.com. Retrieved 14 August 2018.
  28. ^ "The Ascott Limited | CapitaLand". www.capitaland.com. Retrieved 14 August 2018.
  29. ^ "CapitaLand Investment Management | CapitaLand". www.capitaland.com. Retrieved 14 August 2018.
  30. ^ Kaur, Karamjit (21 March 2017). "Changi's Jewel shaping up well for sparkling start in 2019". The Straits Times.
  31. ^ "CapitaLand, CDL complete S$400m Liang Court mall purchase". citicommerical. Retrieved 21 November 2019.
  32. ^ "CapitaLand sells The Star Vista in Singapore". Inside Retail Asia. 21 November 2019. Retrieved 21 November 2019.
  33. ^ hermesauto (21 November 2019). "New Creation buys Star Vista for $300m: 9 things to know about the church, Pastor Prince and the mall". The Straits Times. Retrieved 21 November 2019.
  34. ^ "Capital Tower". CTBUH Skyscraper Center.
  35. ^ "CapitaGreen". CTBUH Skyscraper Center.
  36. ^ "6 Battery Road". CTBUH Skyscraper Center.
  37. ^ Natasha Ann Zachariah (6 November 2015). "The Interlace condo wins World Building of the Year at World Architecture Festival". The Straits Times. Retrieved 14 August 2018.
  38. ^ "One Pearl Bank | One Pearl Bank". Retrieved 22 May 2020.