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Construction milestone for Raffles City Shenzhen

CapitaLand has topped out Raffles City Shenzhen, its first Raffles City in south China, scheduled to open next year.

Located in Nanshan district, the Raffles City Shenzhen comprises a 70,000 sqm mall, a 23-storey office tower and 182 serviced residences.

More than 200 guests attended the topping-out ceremony, including Singapore’s acting minister of education Ong Ye Kung, who is also co-chairman of the Singapore-Guangdong Collaboration Council.

CapitaLand group CEO/president Lim Ming Yan says the Raffles City brand pioneered in Singapore 30 years ago as a groundbreaking “city within a city” concept.

“Today, we have eight Raffles City developments in seven gateway cities in China, making Raffles City the most recognisable Singapore integrated development brand in the country.”

Raffles City developments on track to open next year have already achieved committed occupancy ranging from 50 to 65 per cent, says Lim.

“Collectively, the nine Raffles City developments in Singapore and China span about 4 million square metres and will be worth about S$15 billion [US$10.866 billion] when completed.”

One year ahead of its opening, more than half of the Raffles City Shenzhen shopping mall already has committed tenants. It will offer a curated mix of designer and fast-fashion brands as well as international cuisines, several of which will be new to market.

Anchor tenants include Palace, the high-end cinema chain under Broadway, and Taste, the gourmet supermarket chain under ParknShop. Restaurants include Blue Frog from Europe, Enmaru Izakaya from Hong Kong and Putien from Singapore.

In line with CapitaLand’s push into developing “future-proof real-estate products and services”, the development will feature smart technologies. Special modelling was used to increase efficiency during the planning, design and construction stages of the project, says CapitaLand China CEO Lucas Loh.

When Raffles City Shenzhen opens in phases from next year, shoppers, serviced-residence guests and office professionals will have such technology as an in-mall navigation tool and online payment options.

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