CapitaLand's malls see robust tenant sales growth

Tenant sales were at a healthy 12.6% in China.

CapitaLand's retail malls under CapitaLand Mall Asia are seeing good tenant sales growth across its 87 operating properties.

According to DBS Group Research, the group’s shopping malls continued to record steady sales and occupancy rates in 1Q17.

"Portfolio tenant sales remained relatively steady at -0.3% for Singapore and was healthy at 12.6% in China on the back of improving traffic," the brokerage firm said.

Meanwhile, shopper traffic and tenant sales generally performed better on a YoY basis.

CapitaLand will be completing a substantial 1m sqm of retail GFA in 2017, a majority coming from China (Suzhou Center Mall) and three Raffles City projects (Raffles City Changning, Raffles City Hangzhou and Raffles City Shenzhen) which have seen strong pre-leasing interest with committed rates of more than 90%.