>

>

/

CapitaLand Investment raises RMB1.2 billion to invest in China business park

By Nur Hikmah Md Ali

/ EdgeProp Singapore |

August 13, 2024 10:20 PM SGT

Located in the Suzhou Industrial Park, Ascendas iHub Suzhou comprises four mid-rise and 11 low-rise buildings (Photo: CLI)

CapitaLand Investment Limited (CLI) announced the first close of its sixth onshore renminbi (RMB) fund, China Business Park RMB Fund III (CBPF III), on August 13. The fund secured an initial equity commitment of RMB1.2 billion ($222 million) to invest in the business park sector in China.

The close-ended fund is expected to add RMB2 billion ($370 million) to CLI’s funds under management when fully deployed. An undisclosed onshore institutional investor has been secured as the fund’s anchor investor, while CLI will maintain a sponsor stake in the fund, in line with its asset-light strategy.

CLI will also recapitalise Ascendas iHub Suzhou business park by divesting it as a seed asset to CBPF III for RMB1.4 billion ($259 million).

Read also: Ascott expands European portfolio and partners with Chelsea Football Club

Located in the Suzhou Industrial Park, Ascendas iHub Suzhou comprises four mid-rise and 11 low-rise buildings with a total gross floor area of about 1.84 million sq ft. It houses several international and domestic biomedical and IT enterprises, and is located in close proximity to the Suzhou Metro Line 2. The building also has a gold certification in Leadership in Energy and Environmental Design.

Kara Wang, chief investment officer of CLI China, says that the launch of CBPF III brings CLI’s total domestic capital raised to nearly RMB50 billion since 2021. The recapitalisation of Ascendas iHub Suzhou also demonstrates the firm’s strategy to recycle quality assets from its balance sheet into its RMB funds as part of a China for China capital management strategy, she remarks.

“This marks our second recapitalisation this year following the divestment of a 95% stake in Capital Square Beijing into a joint venture. With the government’s continued focus on technology and industrial transformation, we see prime business park opportunities for CBPF III, both from CLI’s portfolio as well as third-party assets,” Wang adds.

Tags:

China Capitaland Investment

Follow Us

Follow our channels to receive property news updates 24/7 round the clock.

Subscribe to our newsletter

Top Articles

1

Emerald of Katong hits 99% sales at launch, averaging $2,621 psf

2

Kingsford sells 76% of Chuan Park units at an average price of $2,579 psf

3

Is it a Good Deal?: $1.03 million for a four-room HDB flat in District 10

4

Sim Lian Group’s Emerald of Katong: Will it be another top-seller?

5

CDL sells 20% of Union Square Residences at an average price of $3,200 psf

Our Site

Follow Us

Property Research

Condos

HDBs

Landed

Commercial

Industrial

Properties For Sale

Properties For Rent

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

Make data-driven property decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property, while the En Bloc Calculator helps to determine the probability of a Singapore project being put up for collective sale. Our whole new Research tool provides you data on past transactions, price trends, and more for condos, HDBs, landed houses, commercial properties and industrial properties.

Aside from that, EdgeProp also offers a market trends tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heatmap that shows you where Singapore’s most popular property sales locations are, a HDB lease tool to calculate your HDB tenure, an affordability calculator, and property alerts to track your preferred Singapore property by project or location, as well as information on new launches.

On the lookout for undervalued property or looking to rent? EdgeProp’s powerful search filters will let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools, or within a HDB Estate or District – so that you find exactly what you are looking for.

View More

Close Ad

00:00