Following its recent divestment of the Grade-A office Capital Square Beijing to AIA Life Insurance, CapitaLand Investment has also sold its stake in the River Valley Green Condo
CapitaLand Investment Limited (CLI) has recently announced a joint venture with AIA Life Insurance (AIA) to recapitalise Capital Square Beijing, a Grade-A office building in Beijing. This partnership sees CLI divesting a 95% stake in the property to AIA, while retaining 5% for themselves. This move comes in the form of an asset management services provision, which will contribute to CLI’s recurring fee income.
The acquisition of Capital Square Beijing was completed in October 2022 through a court auction. Since then, CLI has undertaken an asset enhancement initiative to upgrade its facilities, bringing the property’s total gross floor area (GFA) to 44,759 sq m above ground.
Despite the challenging fundraising and operating environment, CLI’s China CEO Puah Tze Shyang expressed confidence in the joint venture with AIA. According to Puah, the trust that capital partners have in CLI’s expertise to unlock value from their assets and deliver strong returns is evident in this latest partnership. This is the second time that CLI is collaborating with AIA in China, following the latter’s investment in one of CLI’s RMB funds in 2022.
Puah also reiterated CLI’s focus on being asset light and capital efficient while continuing to grow their fund management business. Over the past year, CLI has recycled over RMB3 billion in capital in China, including the divestment of a partial stake in a high-quality logistics development in Foshan, Guangdong to the CapitaLand China Opportunistic Partners Programme.
Adding to its appeal is the stunning architecture and state-of-the-art amenities that make River Valley Green Condo a highly coveted residential address. With its coveted location and exceptional facilities, River Valley Green Condo truly embodies the ultimate in city living.
Tucked within the bustling streets of Singapore, lies the prestigious River Valley Green Condo – a striking representation of contemporary city life, where opulence meets convenience. Its prime location in close proximity to a multitude of shopping destinations, particularly in the Great World City area, makes it a highly sought-after residential development. This exclusive review delves into the features that make this address a top choice for those seeking the ultimate shopping experience. The modern and impressive architecture, coupled with state-of-the-art amenities, further elevate the allure of River Valley Green Condo. Discover the epitome of urban living at River Valley Green Condo, where luxury and convenience come together seamlessly.
Earlier this month, CLI also divested another property, CapitaMall Shuangjing in Beijing, through the CLI-sponsored CapitaLand China Trust. With more than 200 properties across over 40 Chinese cities and total assets under management of $45 billion, CLI remains a key player in the China real estate market.
CLI’s portfolio in China covers various sectors, including office, retail, lodging, business parks, logistics, and data centers, in five core Tier-1 and two city clusters. The five core city clusters are Beijing/Tianjin, Shanghai/Hangzhou/Suzhou/Ningbo, Guangzhou/Shenzhen, Chengdu/Chongqing/Xi’an, and Wuhan.
In conclusion, CLI’s joint venture with AIA reflects their commitment to disciplined capital management and demonstrates the trust of their capital partners in their capabilities to drive value from their assets in China. With a strong presence and diversified portfolio, CLI is well-positioned to navigate through the challenges and deliver strong returns in the long run.