CapitaLand is set to broaden its master planning and urban design capabilities in China through new strategic partnerships in Ningbo and Jiaxing – two fast-growing cities in Zhejiang Province, east China. Through its wholly owned subsidiary CapitaLand China, CapitaLand has signed two Memoranda of Understanding (MoUs) to explore developing and managing large-scale business park and township projects in line with a new direction in China’s urbanisation drive emphasising integration between industrial and urban development (产城融合). The signings took place this morning in Zhoushan at the 13th Singapore-Zhejiang Economic and Trade Council meeting witnessed by Ms Sim Ann, Singapore’s Senior Minister of State for Trade and Industry, and Culture, Community and Youth; and Mr Zhu Congjiu, Zhejiang’s Vice Governor.
Under the MoU with Ningbo’s Haishu District Government, CapitaLand will explore investing in a business park comprising research & development facilities, offices, residences and civic & community facilities that supports Ningbo’s push to attract higher-tech manufacturing industries under China’s Made in China 2025 blueprint. In another MoU with Zhejiang Communications Investment Group Co., Ltd., CapitaLand will explore investing in a new-generation township comprising integrated developments, offices, residences and serviced residences built around Jiaxing’s highspeed rail (HSR) station in Yuxin area.
Mr Lim Ming Yan, President & Group CEO of CapitaLand Group, said: “In tandem with China’s rapid urban development, CapitaLand has grown our real estate business across asset classes, and sharpened our development and operational capabilities to address China’s urbanisation needs. Our extensive track record in integrated developments has honed our expertise in making the most efficient use of limited land supply to create vibrant communities with an optimal mix of quality live-work-place spaces that are seamlessly integrated and interconnected. As one of Asia’s largest real estate fund managers, our experience in capital management is also a key success factor for mega projects with a longer development horizon. CapitaLand is in a strong position to continue playing an active role in China’s next phase of urbanisation.”
