CapitaLand to open 4 integrated projects in China this year

These four developments comprise over 1 million sqm.

CapitaLand is set to mark a milestone in its integrated development strategy this year with four projects opening in China.

According to OCBC Investment Research, these projects are Raffles City Shenzhen, Raffles City Changning, Raffles City Hangzhou and CapitaMall Westgate in Wuhan.

Excluding car park area, these four developments comprise over 1m sqm in GFA and will provide significant recurring income for the group.

The brokerage firm said the group currently have over 6.2m sqm of GFA in terms of integrated development exposure in China, of which more than half is green-field.

"As the green-field component of the group’s portfolio gets developed and becomes operational, CapitaLand will be well positioned to expand its recurring income base and improve its ROE," OCBC Investment Research said.

As at end 1Q17, 77% of the group’s total assets contribute to recurring income and 44% of the group’s total assets is currently attributed to China