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CapitaMalls Asia gunning for more property acquisitions in China
All eyes on these 5 key clusters.
According to Maybank Kim Eng, it expects new acquisitions to be focused mainly in its five key clusters, namely Beijing, Shanghai, Chengdu, Chongqing and Wuhan.
"We remain sanguine about the Chinese consumer market, where retail sales continue to experience double-digit growth (+13.2% YoY in July)," says Maybank.
Here's more:
Room for more growth in China. Following the completion of Meilicheng in Chengdu and the acquisition of CapitaMall Grand Canyong in Beijing, CMA now has 51 operational malls in China. Jinniu Phase 2 in Chengdu, with a GFA of 90,600 sqm, will open by end-September.
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