CapitaLand sells Beijing unit for $4.2m

Beijing CapitaLand Property Management Co. has ceased to be a wholly owned subsidiary of CapitaLand.

CapitaLand Limited has announced that its wholly owned subsidiary, CapitaLand (China) Investment Co., Ltd. has completed the divestment of its 100% interest in Beijing CapitaLand Property Management Co. (BCPM) for a cash consideration of $4.2m (RMB20.8m).

The adjusted aggregated net asset value of BCPM of $2.3m (RMB11.3m) as at 31 December 2018, which takes into account the agreed value of the property of $4.1m (RMB20.5m) and
the assignment of the outstanding loan of $1.9m (RMB9.5m) to the purchaser.

Following completion of the divestment, BCPM has ceased to be a wholly owned subsidiary of CapitaLand.

The divestment is in line with CapitaLand’s strategy of delivering better value to shareholders
through proactive portfolio reconstitution.

BCPM owns the clubhouse for the residential development known as Orchid Garden in Beijing and 137 carpark lots in the residential development known as La Foret in Beijing.

Also Read

One Sophia sells 30% of units at weekend launch

Turf City sites could deliver up to 800 public housing units: Huttons

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit