Singaporean real estate giant Capitaland has launched Raffles City Chengdu, the fourth Raffles City development in the group’s international portfolio.

Raffles City Chengdu, along Renmin South Rd, spans 195,000 sqm and was designed by architect Steven Holl. The mixed development comprises a shopping mall, office towers, a hotel, serviced residences and premium residential apartments.

More than 70 per cent of the mall will be occupied by international brands while 57 per cent are new-to-market brands and flagship outlets of international brands.

China is one of Capitaland’s core markets, accounting for 41 per cent of the group’s total assets. It now has more than 120 projects in China since it entered the market 18 years ago.

“Raffles City Chengdu does not only enhances the business and urban landscape of Chengdu’s core central business district but entrenches the presence of our real estate value chain in southwest China and attests to our confidence in Sichuan’s development potential in the long-term,” said Lim Ming Yan, COO of Capitaland and deputy chairman of CapitaLand China executive committee.

Capitaland’s first Raffles City development was opened in Singapore in 1986. The group took the brand to China in 2000.

Other than Raffles City in Chengdu, Shanghai and Beijing, CapitaLand has five other Raffles City developments in Chongqing, Hangzhou, Ningbo, Shenzhen, Shanghai currently under development.

GB