\n\u00a0CapitaLand is confident that the newly awarded residential sites in Guangzhou\u2019s Zengcheng District will achieve synergies with the ongoing Datansha Urban Redevelopment project (pictured) in the city\u2019s Liwan District, which is being developed into residential and commercial projects over phases. (Credit: CapitaLand)
\nCapitaLand has claimed two of Guangzhou\u2019s prime residential sites for RMB2.05 billion (about $409.3 million) \u2013 marking its second acquisition in China in less than three months. With a combined area of about 150,000 sq m, the sites could see the development of 1,300 housing units by 2021, catering to first-time home buyers and upgraders.
\nCapitaLand China CEO Lucas Loh says that Guangzhou has been identified by CapitalLand as a core city cluster for growth in China, where the company has CapitaLand has developed many well-received residential projects since entering the city in 2006.
\nThe said sites are located within the heart of Zengcheng District, which is the engine of Guangzhou\u2019s industrial growth and the site of its future second international airport. It is also home to well-known firms such as Honda and FOXCONN, as well as the upcoming Guangzhou Education City.
\n\u201cCapitaLand remains optimistic about the prospects of China\u2019s residential market, where strong housing sales have continually contributed to the group\u2019s earnings.\u201d<\/p>\n
\u00a0In an SGX filing, CapitaLand noted that the acquisition follows its purchase in June of a mixed-use site in Chongqing, which is also expected to yield over 2,100 housing units.
\u00a0CapitaLand is confident that the newly awarded residential sites in Guangzhou\u2019s Zengcheng District will achieve...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-96045","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-oZ7","jetpack-related-posts":[{"id":101029,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitalands-home-sales-in-china-hit-2bil-yuan\/","url_meta":{"origin":96045,"position":0},"title":"CapitaLand\u2019s home sales in China hit 2bil yuan","date":"November 8, 2018","format":false,"excerpt":"\r La Botanica in Xi\u2019an is one of four residential developments launched in \u201cGolden September Silver October\u201d season. (Photo: CapitaLand) CapitaLand held four residential launches in China over the past month, in which it sold a total of 1,506 units worth 2 billion yuan ($396.7 million) \u2013 marking the company\u2019s\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":95643,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-revenue-up-35-3-on-higher-residential-sales-in-china\/","url_meta":{"origin":96045,"position":1},"title":"CapitaLand revenue up 35.3% on higher residential sales in China","date":"August 8, 2018","format":false,"excerpt":"\r CapitaLand is one of the largest property companies in Asia. CapitaLand\u2019s revenue surged 35.3 percent year-on-year to $1.34 billion in Q2 2018, while net profit increased 4.4 percent to $605.5 million, according to an SGX filing on Wednesday (8 Aug). The strong growth in revenue is attributed to higher\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":97018,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-buys-landed-housing-site-in-vietnam-for-s81-4mil\/","url_meta":{"origin":96045,"position":2},"title":"CapitaLand buys landed housing site in Vietnam for S$81.4mil","date":"August 31, 2018","format":false,"excerpt":"\r CapitaLand is buying a prime site in Ho Chi Minh City for VND1,380 billion (approx. S$81.4 million), with the 60,000 sq m land parcel expected to contain over 100 landed housing when the development is completed by 2021. This marks the Singapore-listed property developer\u2019s third acquisition in August 2018\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":101234,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitalands-net-profit-rose-13-6-in-q3\/","url_meta":{"origin":96045,"position":3},"title":"CapitaLand\u2019s net profit rose 13.6% in Q3","date":"November 14, 2018","format":false,"excerpt":"\r View of The Nassim condominium project. CapitaLand\u2019s net profit for the third quarter of 2018 rose 13.6 percent to $362.2 million from $206.3 million in Q3 2017, on account of higher operating profit and gains from asset recycling. Operating profit for Q3 2018 increased 13.3 percent to $233.7 million,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":71242,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-profit-up-28-1-in-q3\/","url_meta":{"origin":96045,"position":4},"title":"CapitaLand profit up 28.1% in Q3","date":"November 8, 2017","format":false,"excerpt":"\r Funan Mall redevelopment that cost $560m, targeted to be completed in Q4 of 2019. (Photo: Capitaland) CapitaLand saw its net profit for the third quarter of 2017 increase 28.1 percent to $317 million from $247.5 million over the same period last year. It attributed the hike primarily to fair\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":33711,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-q3-net-profit-up-28-to-247-5-million\/","url_meta":{"origin":96045,"position":5},"title":"CapitaLand Q3 net profit up 28% to $247.5 million","date":"November 10, 2016","format":false,"excerpt":"\r Earnings grew on higher contributions from its residential business in China and Singapore. (Photo: CapitaLand) Property developer CapitaLand posted a total net profit of $247.5 million in the third quarter of 2016, up 28.4 percent from $192.7 million in the previous year, on the back of better operating performance.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/96045"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=96045"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/96045\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=96045"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=96045"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=96045"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n\u00a0\u201cThese 3,400 units in Guangzhou and Chongqing are a timely addition to our China residential pipeline, as we ready ourselves to release another 4,000 units for sale by the end of 2018,\u201d said CapitaLand Group president and group CEO Lim Ming Yan.
\nThe Chinese government plans to grow the district\u2019s population from 1.15 million to 2.1 million by 2020 \u2013 making it Guangzhou\u2019s fastest-growing district.
\n\u201cWe are delighted to be awarded the new sites in Guangzhou, which will create synergies with our ongoing Datansha Urban Redevelopment project in Guangzhou\u2019s Liwan District that is being developed into residential and commercial projects in phases.\u201d
\nEugenia Rosaline Shlaen edited this story. To contact her about this or other stories, email eugenia@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…CapitaLand clinches two prime residential sites in Guangzhou, China<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"