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Capitaland Will Build Its First Raffles City Integrated Development in Shenzhen and Its Sixth in China

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Capitaland Will Build Its First Raffles City Integrated Development in Shenzhen and Its Sixth in China FOR IMMEDIATE RELEASE 10 May 2010 NEWS RELEASE CapitaLand will build its first Raffles City integrated development in Shenzhen and its sixth in China Singapore, 10 May 2010 – CapitaLand will build its first Raffles City integrated development in Shenzhen. Named Raffles City Shenzhen, it is located in the commercial district of Shenzhen City’s Nanshan District. Raffles City Shenzhen will be a one-stop dining, shopping and lifestyle destination. With this latest addition, CapitaLand’s ‘Raffles City’ branded portfolio now totals eight properties internationally, with six across China, one in Singapore and another in Bahrain. Raffles City Shenzhen, designed by international architectural and design firm Benoy, is an integrated development that will comprise a Grade A office tower, a shopping mall, and a hotel or serviced residence component. Raffles City Shenzhen enjoys high transportation connectivity and is located within close proximity to the subway stations. Raffles City Shenzhen is situated on a site that was acquired by CapitaLand in 2008. The site is one of the largest commercial sites in Shenzhen, at 53,725 square metres in size and with a gross floor area of 237,500 square metres. In addition to the Raffles City Shenzhen complex, CapitaLand will also be developing for strata sale an office tower, residential apartments, small- office-home-office (SOHO) units, and retail space. The entire project, comprising Raffles City Shenzhen and the strata-sale components, is estimated to have a project development estimate (PDE) of approximately RMB 6 billion (S$1.25 billion). Planning and development works for the entire development are underway and it is slated to be completed in phases from 2014. Mr Liew Mun Leong, President & CEO of CapitaLand Group, said: “With 15 years of successful track record in China, CapitaLand is in a strategic position to benefit from China’s strong economic growth. Our diversified portfolio includes homes, office buildings, shopping malls, serviced residences and mixed developments like those under our Raffles City brand. Raffles City is essentially an integrated mixed development of shopping malls, offices, hotel or serviced apartments located in strategically heavy human traffic locations and designed by world-class architects. The first project, Raffles City Singapore, was designed by world-renowned architect I.M. Pei and has operated very successfully for the last 23 years. It is now a well sought-after franchise development under CapitaLand Group.” 1 Mr Liew added: “Our businesses in China continue to do well. In Beijing, we released over 40 residential units of La Capitale and to-date, half have been sold at an average price of RMB40,000 per square metre. CapitaMalls Asia is slated to open another five shopping malls across China this year, in addition to Anyang Mall in Henan, which opened in the first quarter of the year. Ascott, CapitaLand’s serviced residence business unit, has opened three properties in Beijing, Shanghai and Chengdu this year and another four properties with over 1,000 units will open in 2010.” Mr Jason Leow, CEO of CapitaLand China Holdings, said: “Shenzhen City is one of the most vibrant cities in southern China. It is the fourth largest economy within China after Shanghai, Beijing and Guangzhou. When completed, Raffles City Shenzhen will be a lifestyle destination in the Nanshan commercial district. It will also be well-poised to benefit from the continued vibrancy in Shenzhen and Hong Kong, both of which are key cities in the southern China region. ” CapitaLand is the major shareholder and lead development manager with a 58.3% stake in the project. The balance stake is held by other parties unrelated to CapitaLand. To Hong Kong 2 Development in Nanshan District Site area 53,725 sqm GFA 237,500 sqm Raffles City Shenzhen* - Office 32,000 sqm - Retail 72,800 sqm - Hotel/Serviced Residence 22,300 sqm Strata-Sale* - Office 22,600 sqm - SOHO 36,400 sqm - Apartments 36,400 sqm - Retail 15,000 sqm *Areas indicated are based on current planned estimates. CapitaLand’s portfolio of ‘Raffles City’ branded integrated developments CapitaLand’s “Raffles City” brand is synonymous with architecturally outstanding landmark developments which offer an exciting integrated living, working and retail experience. Having achieved great success for the Raffles City development in Singapore, CapitaLand aims to export the Raffles City formula and let its brand name resonate overseas. With the addition of Raffles City Shenzhen, CapitaLand’s ‘Raffles City’ branded portfolio now totals eight properties internationally, with six across China, one in Singapore and another in Bahrain. Raffles City Singapore - Officially opened in October 1986, the award-winning Raffles City Singapore is designed by world-renowned architects I.M. Pei and Partners. It is a landmark development with retail, office, hotels, and convention facilities, with direct link to one of Singapore’s major MRT interchanges. Raffles City Shanghai - Designed by P & T Architects, this is CapitaLand’s first Raffles City development in China, comprising a retail podium and an office tower. Since its official opening in May 2004, Raffles City Shanghai has become a focal point opposite the historic People’s Square in Shanghai. There is a direct link via an underground connection to the People’s Square MRT station, which serves as a nodal point for the major subway lines. Raffles City Beijing – Strategically located across from the Dongzhimen transportation hub, Raffles City Beijing is a landmark integrated development comprising an office tower, a retail podium, apartments as well as a serviced residence. The development, which was completed in 2009, is designed by the well-known Alsop Architects from the United Kingdom. Raffles City Chengdu - The Raffles City Chengdu site, which formerly housed the Sichuan Museum, is located in the heart of the bustling city centre and across a planned subway interchange. Designed by international architect Steven Holl, Raffles City Chengdu will house an office tower, a retail mall, and a hotel or serviced residence. An underpass will connect one 3 of the basement levels of the development directly to the subway train system. Raffles City Chengdu is slated for completion in end 2011. Raffles City Hangzhou – Situated at the heart of the new CBD, Raffles City Hangzhou will be linked to a proposed subway interchange, with connections to the high-speed Maglev train service. Designed by Dutch architect Ben van Berkel of UNStudio, the development will comprise a Grade-A office tower, a retail mall, a five-star hotel and residential. It is expected to be completed by 2013. Raffles City Ningbo - Designed by internationally renowned architectural firm SMC Alsop (UK), Raffles City Ningbo will comprise a shopping mall, a Grade A office tower and a serviced residence. Located in the Daqing South Road’s commercial district and linked to a planned metro station, the development is expected to be fully completed by 2012. Raffles City Bahrain – Designed by internationally acclaimed architect, Rafael Viñoly, this will be CapitaLand’s first major integrated development in the Gulf Co-operation Council (GCC) region. Located along the coast of Manama in Bahrain, Raffles City Bahrain is strategically positioned within Bahrain Bay, the Kingdom's new residential, commercial and retail district. When completed, the waterfront development will have luxurious apartments and premium serviced apartments, as well as a unique retail concept providing a refreshing shopping experience. About CapitaLand Limited (www.capitaland.com) CapitaLand is one of Asia’s largest real estate companies. Headquartered and listed in Singapore, the multi-local company's core businesses in real estate, hospitality and real estate financial services are focused in growth cities in Asia Pacific and Europe. The company's real estate and hospitality portfolio, which includes homes, offices, shopping malls, serviced residences and mixed developments, spans more than 110 cities in over 20 countries. CapitaLand also leverages on its significant asset base, real estate domain knowledge, financial skills and extensive market network to develop real estate financial products and services in Singapore and the region. The listed subsidiaries and associates of CapitaLand include Australand, CapitaMalls Asia, CapitaMall Trust, CapitaCommercial Trust, Ascott Residence Trust and CapitaRetail China Trust. Issued by: CapitaLand Limited (Co. Regn.: 198900036N) Date: 10 May 2010 Analyst Contact Media Contact Harold Woo, SVP, Investor Relations Nicole Neo, VP, Communications Tel: +65 68233 210 Tel: +65 68233 218 Email: [email protected] Email: [email protected] 4 .
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