Singapore based real estate company CapitaLand, thru its wholly-owned CapitaLand Mall Asia, plans to open 8 malls in Asia by 2017, with a total gross floor area (GFA) about one million sq m, offering the biggest retail space in a single year.
CapitaLand plans to open 6 retail components of integrated project in China, also one in India and Malaysia.
They are Raffles City Shenzhen, LuOne, Suzhou Center Mall, Raffles City Hangzhou, CapitaMall Westgate in Wuhan and Raffles City Changning. The other 2 are Forum Mall in Mysore in India and Melawati Mall in Kuala Lumpur, Malaysia.
Phases will be opened in second quarter next year, the upcoming malls will deliver continuous returns in the near future when fully operational, CapitaLand Mall Asia CEO Jason Leow said.
He also announced that 76% total assets of CapitaLand as of end-September 2016 add to recurring income, wherein integrated developments and shopping malls form the bulk.