$CapitaLandInvest(9CI.SI)$ Cap

CapitaLand Investment (CLI) plans to list the CapitaLand Commercial C-REIT (CLCR) on the Shanghai Stock Exchange.

This would increase funds under management of CLI’s listed funds platform, strengthening its leading position as Asia Pacific’s largest REIT sponsor-manager by market capitalisation.

CLCR will invest in operating retail assets in China, benefiting from the Chinese government’s policies to stimulate domestic consumption.

For a start, CLCR will have two mature assets, CapitaMall SKY+ in Guangzhou and CapitaMall Yuhuating in Changsha, with a combined value of some RMB2.8 billion and a total gross floor area of 168,405 square metres (sqm) with an aggregate committed occupancy of 97%.

As strategic investors, CLI, CLCT and CLD will collectively hold at least a 20% interest in CLCR.

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