CapitaLand to go on land-banking and acquisition spree

It fiercely eyes further expansion projects in Singapore, China.

CapitaLand is revving up for more expansion projects in its key markets Singapore and China, RHB said.

According to the brokerage firm, the group is set for more active land-banking and acquisitions as part of its expansion plans following the opening of four integrated projects in China in April, including three Raffles City projects.

CapitaLand's third Raffles City private equity fund which closed October last year at US$1.5b still has some US$1b of cash reserves waiting to be deployed after investing into Raffles City Shenzhen. Meanwhile, another US$2b worth of assets can be acquired by the fund.

Quoting CapitaLand CEO Lim Ming Yan, RHB said the group will continue to seek development opportunities in core markets of China and Singapore where it has strong development teams.