CLCT divests CapitaMall Shuangjing for $157.8m

Upon divestment, CLCT's portfolio will comprise 19 properties.

CapitaLand China Trust (CLTC) divested CapitaMall Shuangjing to an unrelated party based on an agreed property price of RMB842.0m ($157.8m).

The agreed interest price represents an exit yield of 2.8%. The company expects the divestment to crystalise higher cash value from the property.

As the divestment will generate net proceeds of approximately RMB690.7m ($129.5m), unitholders can expect enhanced returns.

Upon completion of the divestment, CLCT will own a portfolio of 10 shopping malls, five business park properties, and four logistics park properties located in 12 cities in Mainland China.

CLCT expects to complete the divestment property in 1H24.