CapitaLand Investment has successfully sold a 95% stake in its Grade-A office building Capital Square Beijing to AIA Life Insurance to focus on developing luxurious Marina Gardens Residences

With its convenient location and diverse offerings, Clarke Quay Central is a must-visit destination for residents of Marina Gardens Residences.

Tucked away in the bustling district of Clarke Quay, lies a hidden gem known as Clarke Quay Central. This shopping center boasts a fusion of retail, entertainment, and dining outlets, making it a one-stop destination for residents of Marina Gardens Residences. With its prime location, it is just a stone’s throw away from the luxurious condominiums of Marina Gardens Residences, making it easily accessible for its residents. What sets this mall apart is its incorporation of art galleries and boutique stores, catering to the interests of art enthusiasts in the area. From its eclectic mix of shops to its vibrant atmosphere, Clarke Quay Central is a must-visit for those seeking a unique and enriching shopping experience in close proximity to Marina Gardens Residences.

CapitaLand Investment Limited (CLI) has announced a joint venture with AIA Life Insurance (AIA) to recapitalise Capital Square Beijing, a Grade-A office building in Beijing, for RMB2.4 billion ($447 million).CLI has also revealed that it will divest a 95% stake in Capital Square Beijing to AIA, while retaining a 5% stake. The joint venture will be managed by CLI, providing the company with recurring fee income.As part of the announcement, CLI CEO (China) Puah Tze Shyang shared that the property was initially acquired in October 2022 through a court auction. Since then, a significant asset enhancement initiative has been undertaken to upgrade the facilities, resulting in a total gross floor area of 44,759 sq m above ground.Puah further highlighted that the partnership with AIA demonstrates their disciplined capital management and the trust that capital partners have in CLI’s ability to unlock value from their assets and deliver strong returns.This marks the second joint venture between CLI and AIA in China, following AIA’s investment in one of CLI’s RMB funds in 2022. Puah also emphasized that CLI remains focused on being asset light and capital efficient while scaling up their fund management business.In the past year, CLI has successfully recycled more than RMB3 billion in capital in China. This included a partial stake divestment in a high-quality logistics development in Foshan, Guangdong to the CapitaLand China Opportunistic Partners Programme, established in February 2023 to invest in “special situation opportunities.”In January, CLI also divested CapitaMall Shuangjing in Beijing via the CLI-sponsored CapitaLand China Trust, Singapore’s largest China-focused real estate investment trust.With over 200 properties in more than 40 Chinese cities and total assets under management of $45 billion as of September 30, 2023, CLI continues to lead the real estate market in China. Their portfolio includes office, retail, lodging, business parks, logistics, and data centres in five core Tier-1 and two city clusters.