Singapore-based CapitaLand is exploring ways to expand its planning and urban design capabilities in China through new strategic partnerships.
The real estate firm’s Chinese arm has signed two agreements to explore developing and managing large-scale business park and township projects in Ningbo and Jiaxing.
The parties involved will further negotiate for the detailed terms of the cooperation if and when entering into definitive agreements.
As part of the initial agreement with Ningbo’s Haishu District Government, CapitaLand will explore investing in a business park comprising research and development facilities, offices, residences, civic and community facilities.
In the other agreement with Zhejiang Communications Investment Group, CapitaLand will explore investing in a new-generation township comprising integrated developments, offices, residences and serviced residences built around Jiaxing’s highspeed rail station in Yuxin area.
Lim Ming Yan, the president and group CEO of CapitaLand Group, said: “Our extensive track record in integrated developments has honed our expertise in making the most efficient use of limited land supply to create vibrant communities with an optimal mix of quality live-work-place spaces that are seamlessly integrated and interconnected.
“As one of Asia’s largest real estate fund managers, our experience in capital management is also a key success factor for mega projects with a longer development horizon. CapitaLand is in a strong position to continue playing an active role in China’s next phase of urbanisation.”
CapitaLand is the largest foreign real estate developer in China.