Tag Archives: 凯德 CapitaLand

CMT and CCT unitholders voted resoundingly in favour of the proposed merger of CMT and CCT

[ CICT = CMT + CCT ]

Merged entity (CICT) will be the largest S-REIT and one of the largest REITs in Asia Pacific with an asset base of S$22.4 billion

Singapore, 29 September 2020 – Unitholders of CapitaLand Mall Trust (CMT) and CapitaLand Commercial Trust (CCT) have voted resoundingly in favour of the proposed Merger of CMT and CCT to create a diversified commercial real estate investment trust (REIT), to be named “CapitaLand Integrated Commercial Trust” (CICT) following completion of the transaction. More than 3,000 unitholders voted by proxy at CMT’s Extraordinary General Meeting (EGM) and CCT’s EGM and Trust Scheme Meeting held via electronic means today.

All five resolutions at the three meetings were duly passed and well supported. At CMT’s EGM, approximately 98.89% of the total number of votes were in favour of the proposed Merger by way of the Trust Scheme; while approximately 98.88% of the total number of votes were in favour of the issuance of new CMT units as part of the Scheme Consideration for the Merger. Pyramex Investments Pte Ltd, Albert Complex Pte Ltd, Premier Healthcare Services International Pte Ltd, CapitaLand Mall Trust Management Limited and their associates abstained from voting on these resolutions. For purposes of good corporate governance, Mr Jason Leow, who is concurrently the President, CapitaLand Singapore & International of CapitaLand Group, and Mr Jonathan Yap, who is concurrently the President, CapitaLand Financial of CapitaLand Group and a director of CapitaLand Commercial Trust Management Limited, also abstained from voting on these resolutions.

At CCT’s Trust Scheme Meeting, the resolution on the Merger by way of the Trust Scheme received approximately 90.31% approval by headcount representing approximately 98.23% in value of the total number of CCT Units held by CCT Unitholders who voted. The CCT Manager, the CMT Manager’s concert parties, as well as the common substantial unitholders of CMT and CCT, abstained from voting on the Trust Scheme Resolution at CCT’s Trust Scheme Meeting.

The resolution on the CMT Trust Deed Amendments at CMT’s EGM and the resolution on the CCT Trust Deed Amendments at CCT’s EGM were approved with approximately 99.75% and approximately 96.04% of the total number of votes respectively.

Mr Tony Tan, CEO of CMT Manager, said: “We are heartened and humbled by the resounding support given by CMT Unitholders for the Merger. To receive a strong mandate amidst the uncertainties of COVID-19 to deliver the transformative merger is an honour and a responsibility we do not take lightly. Underpinned by leadership and resilience, the Merged Entity will be in a stronger position to seize the opportunities across retail, office and integrated developments in our focus market of Singapore. We remain firmly committed to delivering sustainable distributions and long-term returns for our unitholders, something we have been doing in CMT and will continue to do in CICT. We thank CMT Unitholders for your trust and support as we embark on this new journey as CICT.”

Mr Kevin Chee, CEO of CCT Manager, said: “We are encouraged by the decisive vote that CCT Unitholders have given for the Merger. The unwavering confidence and trust that CCT Unitholders have placed with us over the years and for this Merger is received with humility and gravity, and we are truly grateful. The Merger is an important milestone in our journey through evolving market trends and a changing real estate landscape to deliver sustainable returns to CCT Unitholders. The Merger with CapitaLand Mall Trust to form CapitaLand Integrated Commercial Trust will put us at the forefront to seize opportunities, create value and weather uncertainties and challenges. We remain resolute in our commitment to CCT Unitholders to deliver long-term sustainable returns through the new Merged Entity.”

CICT is expected to be one of the largest REITs in Asia Pacific and the largest REIT in Singapore by market capitalisation (S$12.7 billion) and total portfolio property value
(S$22.4 billion). It is also expected to be the largest proxy for Singapore commercial real estate with a diversified portfolio of 24 strategically-located and high-quality retail, office and integrated developments in Singapore and overseas.

Under the Trust Scheme, CMT will be acquiring all the units in CCT held by CCT Unitholders in exchange for a combination of new units in CMT and cash. The consideration for each CCT Unit under the Trust Scheme (Scheme Consideration) comprises 0.720 new CMT Units (Consideration Units) and S$0.2590 in cash (Cash Consideration).

Subject to obtaining the necessary approvals, the Merger is expected to become effective on Wednesday, 21 October 2020. CCT’s last day of trading is expected to be Friday, 16 October 2020.

 

CRCT to acquire three CapitaLand malls in China


June. 11, Singapore

CapitaLand Retail China Trust Management Limited (CRCTML), the manager of CapitaLand Retail China Trust (CRCT), today announced that CRCT has entered into an agreement with a subsidiary and associated companies of CapitaLand Limited to acquire 100% interests in three companies that hold three malls in China –CapitaMall Xuefu and CapitaMall Aidemengdun in Harbin and CapitaMall Yuhuating in Changsha. The accretive acquisition will diversify CRCT’s footprint in China from eight cities to 10 and enable it to gain exposure to two rising provincial capital cities with strong economic fundamentals and long-term growth potential, namely Harbin in Heilongjiang Province, north China and Changsha in Hunan Province, central China.

The acquisition of the three companies is based on an agreed value of RMB2,960 million (about S$589.2 million) for the three malls held by the companies. CRCT’s total acquisition outlay is estimated at S$505.4 million, subject to post-completion adjustments. CRCT intends to finance the proposed acquisition via a combination of debt and equity with an objective to achieve accretion. The financing plan details will be decided at a later date. The transaction, which is conditional upon CRCT unitholders’ approval at an extraordinary general meeting, is expected to be completed in 3Q 2019.

With a total gross floor area (GFA) of 248,282 square metres (sq m), the three multitenanted malls with established anchor tenants and specialty retail mix will expand CRCT’s portfolio GFA by 30.7% and boost the number of leases in its portfolio by 52% – thereby enhancing CRCT’s portfolio diversification and creating new synergies among its multitenanted malls. At 99.0%, the occupancy of the three malls is well above the market average, reflecting their popularity with retailers and entrenched market leadership.

CapitaLand announces top leadership succession as the Group charts next phase of growth

Current Group Chief Investment Officer Lee Chee Koon to be appointed as President & Group CEO

Singapore, 28 August 2018 – CapitaLand Limited announced today its top leadership team that will drive its next phase of growth. The team comprises:
1) LEE Chee Koon – President & Group Chief Executive Officer
2) Jason LEOW Juan Thong – President (Asia* & Retail)
3) Lucas LOH Jen Yuh – President (China & Investment Management)

These appointments will take effect from 15 September 2018.

Mr Ng Kee Choe, Chairman of CapitaLand Limited said: “The Board has continually worked with the management team on succession planning and deepening of bench strength to build a robust talent pipeline. After a very thorough and systematic review process, the Board is pleased to put in place leaders with the best fit and capability to chart CapitaLand’s next phase of growth. Chee Koon, Jason and Lucas are key members of the management team and have been instrumental in developing and executing the Group’s growth strategy. Led by Chee Koon, the team’s combined competencies and experiences will benefit CapitaLand greatly.”

Mr Lee Chee Koon is currently the Group Chief Investment Officer of CapitaLand. He joined the company in February 2007 and has held several appointments within the Group, including as Chief Executive Officer of The Ascott Limited (Ascott), CapitaLand’s wholly owned serviced residence business. Mr Lee brings a wealth of experience in operational strategy, corporate business development and a strong track record in developing partnerships. Over a four-year period from 2013, he successfully led Ascott’s recovery in profits, significantly grew its revenues and oversaw its unprecedented expansion.

Mr Lee said: “I am deeply honoured to have this opportunity to lead CapitaLand in its next phase of growth. Ming Yan has built a strong foundation for expansion. I will build upon it to bring CapitaLand forward and to achieve greater returns to shareholders. I look forward to working with a very experienced Board and our dedicated colleagues at CapitaLand to shape a greater future for the Group.”

After stepping down as President & Group CEO on 15 September 2018, Mr Lim Ming Yan will continue to serve as a Board Director of the company until 31 December 2018.

Mr Lim said: “I am committed to working closely with the Board and Chee Koon to achieve a smooth transition. Chee Koon has proven himself to be a highly driven and capable leader with strong core values. I am delighted to be handing over the reins to an executive of his calibre. This new cohort of top leadership was primed and groomed for many years, and I am proud to see them rising to the challenge.”

印力联合万科和Triwater 收购中国的20家购物中心项目公司100%股权

 

2018年1月5日–中国领先的购物中心投资、开发与运营商印力商用置业有限公司（“印力”）今天宣布，联合万科企业股份有限公司（“万科”）、Triwater Asset Management Holdings Limited（“Triwater”），通过各自旗下全资子公司联合与凯德集团全资子公司凯德商用达成协议。根据协议，三方将联合收购凯德集团旗下全资子公司凯德商用在中国国内的20家购物中心项目公司的100%股权并承接相应的负债，交易对价为83.65亿人民币。上述股权交易的完成仍需取得中国政府相关部门的监管审批。

此次股权交易涉及的20家购物中心总建筑面积约为95万平方米，分布在中国华北、华东、华南和中西部区域的19个城市，且均位于所在城市的核心区域，有着稳健的经营效益和坚实的消费者基础。交易完成后，上述购物中心将全部交由印力运营管理，计划按照“印象”系列的品牌定位及标准进行提升。通过收购，印力得以进一步加速区域市场深度布局，丰富客户网络资源，推动存量资产优化策略，提升业务协同能力等。至此，印力在全国持有或管理的商业项目数量120家，管理面积1000万平方米，管理资产规模逾800亿人民币，遍布中国58个城市。

万科集团高级副总裁、印力董事长兼总裁丁力业先生表示，“伴随中国城镇化进程持续加快及人民对美好生活日益增长的需求，我们充分看好商业地产存量市场的价值空间。此次收购凯德成熟资产项目持有公司的股权，符合印力的发展战略。

首先，这批项目沉淀了优秀的商业管理人才，本次股权交易后，这批团队将会保留下来。吸纳这样一批专业团队，对印力的人才储备及未来发展具有重要意义。其次，这些购物中心位于印力六大城市公司管理半径内，有助于提升我们商业网络的广度及深度，下沉到核心区域市场及周边城市群，能更好发挥平台资源协同效应。再者，本次交易标的中的大部分项目都曾是我们与凯德共同选址开发的，均位于核心城市的成熟商圈，具有较大的客户价值优势，且印力对这些项目所在市场有深刻了解并长期关注，因此有信心为当地客户提供更丰富优质的服务体验。”

作为专注深耕于中国商业地产领域15年的本土企业，印力一直秉持稳健的资产投资策略。伴随着商业地产存量时代的到来，印力2014年开始采取自主开发与资产并购并存的成长路径，聚焦核心区域及周边城市群的深耕发展，盘活存量资产项目，助力城市更新升级。以近期重新开业的沈阳印象城为例，该项目原为运营超过十年的电器商城，印力经过一年左右的升级改造，根据当地消费特点引入体验式的业态品牌，改造后营业面积下降38%，但日均销售上升63%，日均客流上升129%，总租金提升74%。

2016年底，印力成为万科商业地产平台，成立六大城市商业公司，覆盖以广深、北京、上海、杭州、武汉、西安为核心区域的城市群，自身的商业资源、业务平台和开发管理能力得到进一步提升。凭借成熟的商业开发运营能力和一体化的商业地产全价值链模式，面对中国主流消费家庭，印力以“缔造欢购之城、开启乐享之旅”为使命，聚焦于打造“印象”系列的购物中心和社区商业产品，通过提供高品质、与时俱进的商业空间场景，满足日益增长的美好消费与休闲体验需求。

依托经验丰富的管理团队和优质的商业资源，印力努力成为最了解客户需求及与时俱进的商业地产平台。十九大报告中明确提出，要“完善促进消费的体制机制，增强消费对经济发展的基础性作用。”作为给大多数居民消费提供场所的商业地产，无疑也需要在服务创新、空间运用与数字化体验提升方面，进行更多的探索。2017年印力通过“数字印象”技术平台，在精准营销、智能服务、运营创新等方面，给客户带来更多可感知的个性化体验。

商业地产的发展将进入一个新时代。一方面，商业地产行业已进入存量竞争格局，面临着一轮新的改造升值机会，存量资产价值空间将被释放；另一方面，电商开始纷纷布局线下，未来是线上和线下融合的时代。“天网好搭，地网难建”，印力认为，相比线上平台，线下入口更具有稀缺性。

未来，印力将继续寻找更多的存量资产的并购机会，通过并购优质存量资产，获取线下流量资源；通过创造存量资产的增量价值，盘活社会配套资源，推动打造场景化的城市空间，不断优化客户体验。印力还将致力于成为中国领先的商业地产平台，持续为中国消费升级和商业创新发展贡献力量。

CapitaLand and CRCT to jointly acquire 100% interest in company that owns Rock Square in Guangzhou for RMB3.3 billion

Singapore, 28 November 2017 – CapitaLand and CapitaLand Retail China Trust (CRCT) have formed a joint venture to acquire all the shares in a company that owns an operational shopping mall, currently known as Rock Square (乐峰广场), located in Haizhu District inGuangzhou. CRCT is the majority shareholder with a 51% stake in the joint venture, while CapitaLand owns the remaining 49%. This marks CapitaLand’s second mall and CRCT’s first in Guangzhou, the provincial capital of Guangdong Province in South China and one of four first-tier cities in China.

Total purchase consideration payable is about RMB3,360.7 million (about S$688.9 million)1,which includes but is not limited to the company’s interests in Rock Square with an agreed value of RMB3,340.7 million (about $684.8 million)2. The transaction is expected to be completed by 1Q 2018.

Rock Square is one of the largest malls in Haizhu District with a gross floor area (GFA) excluding car park of about 83,591 sq m. Surrounded by densely populated residential estates, the mall caters to about 800,000 residents from middle- and high-income households within a three-kilometre radius. The mall is directly connected to Shayuan metro station, which serves Line 8 that links Guangzhou’s eastern and western areas, and Guangfo Line that connects Guangzhou with Foshan. The planned extension of Line 8 and Guangfo Line by 2019 is expected to increase the mall’s population catchment.

Mr Jason Leow, CEO of CapitaLand Mall Asia, said: “China is an important core market to CapitaLand. We continue to invest in our China shopping mall business under our ‘core city clusters, dominant assets’ strategy, which focuses on strengthening our presence in five city clusters with quality assets that command a dominant market position. Given Rock Square’s significant scale and strategic location with excellent transport links, the acquisition presents a rare opportunity to increase our exposure to the high-growth retail market in a first-tier city. As an operational mall with upside potential, the acquisition will also help CapitaLand to increase our recurring income base as we continue to expand our business.”

Mr Leow added: “When completed, the acquisition will boost CapitaLand’s retail presence in Guangzhou, where we currently own and manage CapitaMall SKY+, which opened in 2015. By leveraging on our experienced team in Guangzhou to manage the new mall, we will be able to benefit from the network effect of an enlarged portfolio.”

Mr Tan Tze Wooi, CEO of CapitaLand Retail China Trust Management Limited, said: “The acquisition marks CRCT’s strategic entry into another first-tier city after Beijing and Shanghai. It represents a progression of our portfolio reconstitution strategy, whereby capital from the sale of CapitaMall Anzhen is recycled into a multi-tenanted mall with a longer balance tenure and stronger growth potential. The addition of Rock Square serves to diversify CRCT’s tenant base and improve the quality of earnings by increasing our exposure to more varied and higher-yielding trade categories. Post-completion, the accretive acquisition will boost CRCT’s portfolio size by about 28% to approximately RMB15.1 billion (about S$3.1 billion)3.”

Mr Tan added: “In view that leases accounting for over half of the mall’s total rent are up for renewal between 2018 and 2020, the timely acquisition will present us with a window of opportunity to achieve rental uplift through active tenant mix adjustments, unit reconfiguration and improvements to the layout. This is supported by the mall’s current mix of popular retailers, which serves as a strong base to attract more quality brands to enhance the overall shopping experience. Coupled with the cost synergies from working with our sponsor CapitaLand to manage the mall, we are confident of driving the growth of Rock Square and turning it into a significant contributor to our overall performance.”

Opened in 2013, Rock Square is a five-storey shopping mall with three levels above ground and two basement levels. Positioned as a modern and trendy retail destination offering a wide range of fashion, F&B, children-oriented and entertainment options, the mall houses well-known international brands such as AEON, UNIQLO, ZARA and Victoria’s Secret. As at June 2017, the mall was 96.4% committed.

The mall is located in Haizhu District, Guangzhou’s second most populous urban district that also ranks high in terms of disposable income per capita4. A popular residential area for Guangzhou’s new affluent class, Haizhu District is home to the Creative Industry Zone (where leading technology firms such as Tencent are based), the city’s landmark Canton Tower and top tertiary institution Sun Yat-sen University.

Guangzhou is the most populous city of Guangdong Province with a population of 14 million. It is an important communications and transportation hub in South China with a flourishing high-tech industry. In 2016, Guangzhou’s GDP grew 8.2% year-on-year, outpacing the national average of 6.7%. In the same period, both disposable income per capita rose and total retail sales rose by 9.0%. These positive indicators are expected to see further growth support, as Guangzhou transforms into a major commercial centre in South China with a fast-evolving retail scene and an increased emphasis on driving domestic consumption.

CapitaLand marks strategic collaboration with Alibaba Group with agreement to manage Alibaba’s Shanghai headquarters and launch of online mall on Lazada Singapore

Alliances underscore the Group’s omni-channel strategy to enhance O&O offerings of its real estate business

Singapore, 23 August 2017 – CapitaLand is advancing its omni-channel strategy by forging alliances with two leading e-commerce players in its core markets. In China, CapitaLand has inked an agreement to manage Alibaba Shanghai Center, the e-commerce conglomerate’s new Shanghai headquarters comprising four office towers and a retail podium. This marks the start of strategic collaboration between CapitaLand, one of Asia’s leading real estate companies; and Alibaba Group, Asia’s largest e-commerce company, to reinvent modern retail through the seamless integration of offline and online (O&O) channels.

In Singapore, CapitaLand has signed an agreement to launch an exclusive online mall on Lazada Singapore, which is part of Lazada Group, Southeast Asia’s largest e-commerce platform. The shop-in-shop on Lazada.SG will position CapitaLand as Singapore’s first omni-channel retail landlord that connects retailers to shoppers both offline and online, complemented by a unique in-mall collection service for shoppers.

Mr Lim Ming Yan, President & Group CEO of CapitaLand Limited, said: “Even as new technologies disrupt traditional business models, real estate remains an important part of a holistic customer journey, as affirmed by leading digital players who are seeking to gain a foothold in the physical space. CapitaLand is excited to collaborate with leading digital economy players like Alibaba and Lazada on this transformational journey and we look forward to creating win-win outcomes for all parties. We will continue to work with our business partners and forge new strategic alliances to future-enable our properties and support our retailers in embracing an omni-channel business model that meets the needs of consumers.

“The key to unlocking the next stage of growth lies in blending physical and digital channels to create a seamless O&O experience that is sought after by consumers. We will continue to leverage digital tools and partner disruptors to strengthen our customer engagement, embrace smart building technologies to uplift the quality of our built environment, and harness data to enhance customer experience at our properties. Neither an offline-only nor online-only business model will work; it is in the combination of O&O where long-term success can be found.”

Reinventing physical space to create new O&O experiences

Under the contract with Alibaba, CapitaLand will oversee the pre-opening and management of the shopping podium and one of the four office towers in Alibaba Shanghai Center, which has a total Gross Floor Area (GFA), excluding car park, of about 80,000 square metres (sqm). The four office towers occupy about 60,000 sq m, while the four-storey shopping podium – three levels above ground and one basement level – takes up about 20,000 sq m. Alibaba Shanghai Center is strategically located in the northern core of Shanghai’s Hongqiao Central Business District, less than two kilometres away from Hongqiao Transportation Hub. Slated to open next year, the retail component serves working professionals, and residents living in mid- and high-end housing zones in the vicinity.

Mr Jason Leow, CEO of CapitaLand Mall Asia, said: “CapitaLand is a firm advocate of retail innovation and we champion the reinvention of retail space to keep abreast of changing consumer habits. For example, we are taking the opportunity of redeveloping Funan in Singapore to leapfrog into the future and envision how a shopping mall of the future will look like. In Qingdao, China, we have launched the Group’s first smart mall, CapitaMall Xinduxin, which offers integrated O&O experiences through CapitaStar, the Group’s digital platform.
Now, we are pleased to partner e-commerce powerhouse Alibaba to jointly explore the possibilities in combining bricks with clicks – starting with Alibaba Shanghai Center – and creating new and exciting O&O experiences.”

Mr Wang Tao, Head of Intelligent Building at Alibaba Group, said: “Shanghai is one of the important platforms to Alibaba and our new headquarters here will serve as our strategic nerve centre for rolling out our New Retail strategy. We are delighted to partner with CapitaLand on this project, as they are a leading property developer and manager in Asia with industry-leading physical retail capabilities. We believe our collaboration will chart new frontiers in integrating online, offline, logistics and data across a single value chain to meet the needs of consumers. We look forward to deepening our collaboration with CapitaLand in the future.”

Connecting retailers to shoppers both offline and online

In line with Singapore’s Smart Nation push to reinvent retail, CapitaLand will launch a shopin-shop aggregating the offerings of retailers in its Singapore malls on Lazada.SG by the end of this year. To facilitate an O&O experience, shoppers who patronise the CapitaLand official store on Lazada.SG will have the option to collect their purchases in CapitaLand malls. In doing so, they will be rewarded with STAR$®, the membership points of the CapitaStar programme.

As a start, CapitaLand will roll out two unmanned click-and-collect lounges at Plaza Singapura and Bugis+ for shoppers to collect and return their parcels. In addition to
collection lockers, the lounges will feature fitting rooms and a product-testing bench to enhance the overall shopping experience.

Mr Leow said: “As more and more shoppers make purchases both offline and online, we recognise that omni-channel retailing is the way to go for our retailers to maximise their reach and market share. As the owner and manager of Singapore’s largest network of shopping malls, we have thus embarked on creating a digital channel that supports our mall tenants in tapping the growth potential of e-commerce. By leveraging our extensive physical network as a competitive advantage, shoppers will enjoy an additional option of collecting their online purchases in our malls. This unique feature will draw shoppers to our malls and reduce last-mile delivery costs for retailers in the long run.

“We are delighted to partner with Lazada to create an online option for our retailers. By combining our in-mall and digital marketing capability with Lazada’s online assets, our retailers will enjoy comprehensive marketing support in the physical and digital space and get a leg-up in their e-commerce operations.”

Mr Alexis Lanternier, CEO of Lazada Singapore, said: “Lazada entered Singapore just three years ago and today the country is one of our fastest-growing markets in Southeast Asia. Our collaboration with CapitaLand offers shoppers in Singapore the ease of accessing their favourite shops online and enjoying an integrated shopping experience. Shoppers not only have the option of click-and-collect but benefit from free delivery and have 14 days to return their products. This partnership is an important step for Lazada to expand our network of partners as we evolve the e-commerce ecosystem in Singapore.”

Both CapitaLand and Lazada will allocate resources to onboard retailers and promote the platform to shoppers, with the intention of rapidly scaling up the initiative in the next two years.

 

 

BlackRock贝莱德成为CapitaLand凯德的主要股东之一

新加坡凯德(CapitaLand Limited)发布公告，贝莱德(BlackRock)成为CapitaLand凯德的主要股东之一，拥有其约5%的股份。

凯德集团(CapitaLand Group)是亚洲规模最大的房地产集团之一，总部设在新加坡，并在新加坡上市。集团的房地产和房地产基金管理业务集中于核心市场新加坡和中国。
集团的房地产业务多元化，包括住宅、办公楼、购物商场、服务公寓和综合房产。集团也同时是亚洲最大的房地产基金管理者之一。凯德集团凭借其雄厚资产、多元房地产领域知识、先进产品设计和开发技能、积极资本管理策略以及庞大市场网络，持续开发优质房地产产品与服务。

贝莱德(BlackRock）是领先全球的环球资产管理公司，为世界各地的机构投资者、中介人及个人投资者提供优质的投资管理、风险管理与顾问服务。