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Capitaland global assets under management exceed S$123 billion after buying Xingqiao & ascendas in June 30, and Capitaland will become one of the largest diversified property groups in Asia, covering more than 200 cities in over 30 countries, including office buildings, shopping centers, industrial park, industrial and logistics property, commercial complexes,urban development projects,residences, apartments and hotels. The total assets under management in China are nearly S$260 billion, with a total development scale of 23 million sqm. Since entering China in 1994, Capitaland has owned/managed more than 200 projects in 42 cities.
Property income from CapitaLand Retail China’s business rose 15 per cent year-on-year in the first quarter. CapitaLand Retail China Trust Management (CRCTML), which manages CapitaLand Retail China Trust (CRCT), has reported a net property income of RMB194.9 million (US$28.3 million) for the quarter. The Singapore-headquartered group attributes the increase mainly to the contribution from CapitaMall Xinnan, acquired at the end of September. This was partially offset by extra tax provision for Beijing malls because a change from cost to revenue basis effective from July. With China’s economy expanding 6.9 per cent and retail sales growing 10 per cent, CRCT’s family-oriented shopping malls are well-positioned to benefit from the sustained increase in China’s domestic consumption, says CRCTML chairman Soh Kim Soon. CEO Tan Tze Wooi says CapitaMall Xinnan notched up its committed occupancy to 99.6 per cent from 98.2 per cent at the end of December. “Proactive lease management to refresh its tenant mix is progressing ahead of schedule.” He said new tenants, such as restaurants Dou Wa and Lei Men Ramen, will start contributing income from the second half of this year. “Our performance was also boosted by CapitaMall Minzhongleyuan, which recorded year-on-year increases of more than 90 per cent and more than 60 per cent in shopper traffic and tenants’ sales respectively after the reopening of Zhongshan Avenue enhanced its accessibility.” At March 31, CRCT’s portfolio occupancy was 96.2 per cent, up from the 95.9 per cent at the end of the previous quarter. “We also undertook unit reconfiguration works in our malls to maximise their value,” says Tan Tze Wooi. “At CapitaMall Grand Canyon we added more than 600 square metres of retail space, mainly from converting underused common areas.” Fashion, sporting goods and F&B brands occupying the new space increased rental income by about 24 per cent as well as helping diversify the mall’s offerings. CRCT is the first China shopping mall real-estate investment trust (REIT) in Singapore, with a portfolio of 11 income-producing malls in China. As at the end of last month, the total asset size of CRCT was about S$2.7 billion (US$1.9 billion).
The president of Six Flags International Development Co, a US-based theme park company, has announced Garfield, the orange cartoon cat from the Garfield comic strip, will be the face and hero of China's first Six Flags theme park. John Odum said tourists at the park, which was expected to open in 2019, will be able to experience the world of Garfield and his friends, with themed rides, attractions and live shows planned to feature the entertainment characters. Since being founded in 1974, Six Flags, an amusement park equally popular as Disneyland and Universal Studios, now has 20 parks across the United States, Mexico and Canada. The company also has an annual revenue worth of about$1.3 billion. Garfield, who was created by an American cartoonist, Jim Davis, in 1978, has a love for lasagna, coffee and his remote control, and can be commonly seen in cartoons, books, stage performances and even emoji packages worldwide. China's tourism and real estate developer Riverside Tourism Investment Group Co Ltd signed an agreement with Jim Davis' company, Paws Inc, to use the image of Garfield in the Six Flags theme park, which will be located in Hangzhou and Chongqing. The investment of each of these areas will be expected to reach 30 billion yuan ($4.6 billion). "This alliance is another major step toward building a world class park for millions of visitors," Li Che, the chairman of the Riverside Tourism Investment Group, said. "Garfield is already a beloved character in China and we look forward to bringing him to life inside Six Flags Zhejiang." He added the Garfield theme park would provide innovative coasters, themed rides and water amusement for visitors.
Rainbow (former Rainbow Department Store) announced to separately develop the supermarket format under the brand “sp@ce” and “Rainbow Supermarket”, targeting mid- to high-end consumers. Rainbow targets to open 100-150 digitized supermarkets in three years. “sp@ce” supermarkets will embrace a flexible product mix to suit consumers in different locations. Rainbow now operates multi-formats including department store, supermarket, shopping malls and convenience stores.
The Southwest Division of Greenland Holdings Group revealed that the commercial cluster of Greenland Group will be established in Chengdu in 2019. At the same time, as the anchor store of the commercial cluster, Ito Yokado’s Asia flagship store “Ito Yokado Greenland 468 store” will be open in early 2018. The total floor area of Ito Yokado Greenland 468 store will reach 80,000 sqm, which is not only the largest store of Ito Yokado in China, but also its first shopping mall in Chengdu.
China Resources Land Limited’s Mixc World will be opened on 27 September this year in Shenzhen. It is China Resources Land’s second commercial property in Shenzhen under the Mixc brand following the opening of Mixc Shenzhen in 2004. Mixc World has an area of around 230,000 sqm for nearly 300 stores, housing over 1,000 brands and 12 standalone flagship stores. There is also a 2,000 sqm indoor kids’ playground and a food court that will open 24 hours a day.
Carrefour China said that it will continue its strategy of “multi-business-formats and multidistribution-channels” in 2017 and plans to open more “Easy Carrefour” convenience stores in Shanghai and other cities. In terms of e-commerce, Carrefour’s online shopping platform (www.carrefour.cn) has been launched in 12 cities in China and it will continue to integrate the platform’s operation with the group’s cross-border e-commerce business and its shopping app. Currently, Carrefour China has six logistics distribution centres in operation in Kunshan, Chengdu, Wuhan, Dongguan, Tianjin and Shenyang. Carrefour China said it will continue to invest more in hypermarket retail format, open new stores in provinces in Central or Western China, as well as upgrade the current stores.
An undulating sledding path will loop around the roof garden of Beijing’s planned Phase 3C mall, which also has an Olympic-sized ice-skating rink at its heart. A layer of fake snow will be added to the rooftop track in winter for sledding. Designed by Hong Kong-based American architect Andrew Bromberg of Aedas, the Phase 3C building is part of the China World Trade Center complex in Chaoyang, the city’s CBD. It is the fifth and final stage of a 30-year master plan that comprises 14 buildings. Bromberg’s building features a continuous loop that mimics the road, wrapping an elliptical volume at the centre with a roof garden called the Civic Green, reports Dezeen. The garden is set on three stepped levels and surrounded by a pathway that dips down to the entrance on one side. Cherry blossom and pine trees will be planted along the walkway, and the upper floors of the building surrounding the green will stagger backward to create terraces with seating areas and trees. In the centre of the building, the ice-skating rink will be surrounded by a loop of shops and cafes. There will also be art studios, exhibition spaces, an organic farm, cultural and educational amenities, and a rock-climbing wall. Earlier this year, the Phase 3C was awarded Best Future Project at the MIPIM Awards, an annual real-estate event in Cannes.
Mr. Zhou Meng CEO of Five Star Appliance, president of Best Buy (China) Co., Inc., SVP of Best Buy Co., Inc. 2014/7/1 9:57:50
Mr. Jian Wei General Manager of Commercial Properties Department, Longfor Group 2013/7/4 9:51:55
Mr. Motomichi Shibata Deputy Managing Director of Mitsui Fudosan Consulting (Beijing) Co., LTD 2013/6/28 14:17:00