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Capitamalls Asia to Acquire Shopping Mall in Guangzhou

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Capitamalls Asia to Acquire Shopping Mall in Guangzhou For immediate release 20 November 2013 NEWS RELEASE CapitaMalls Asia to acquire shopping mall in Guangzhou Population catchment of about 1.1 million people within 3-km radius Directly connected to subway Line 2 and future Line 12 Singapore & Hong Kong, 20 November 2013 – CapitaMalls Asia Limited (SGX: JS8 and HKEx: 6813) is pleased to announce today that it is acquiring a new shopping mall in Guangzhou, China – its first in the city. The acquisition is subject to the approval of the Chinese government. CapitaMalls Asia has signed an agreement to acquire a shopping mall at Baiyun Greenland Centre, an integrated development located at the junction of Yuncheng West Road (云城西路) and Qixin Road (齐心路) within the core commercial centre of Baiyun New Town (白云新城) in Baiyun District (白云区). Baiyun Greenland Centre also comprises a 200 metre-high office tower – the tallest landmark in the district. CapitaMalls Asia is acquiring the shopping mall from Greenland Real Estate, a subsidiary of the Greenland Group, a leading state-owned enterprise based in Shanghai that also has investments in the energy and finance sectors. Greenland Real Estate is a leading Chinese developer which currently has projects in 80 cities in 26 provinces in China. Baiyun District is the most populous district in Guangzhou with a population of over 2.2 million people. A number of companies are headquartered in Baiyun District, including China Southern Airlines and the Guangdong Airport Authority. These two organisations are currently building their new offices right next to the proposed mall in Baiyun New Town, which is positioned as the new regional centre of northern Guangzhou. Developed on the site of the former Guangzhou Baiyun Airport, the well-located Baiyun New Town is just 8 kilometres (“km”) from the central business district at Pearl River New Town and 23 km, or about half-an-hour’s drive, from Guangzhou Baiyun International Airport. 1 The mall will be connected to Baiyun Park (白云公园) subway station on Line 2 on its basement levels 1 and 2, making it the only shopping mall in Baiyun New Town that is directly connected to a subway station. Line 2 connects to the Guangzhou South High-Speed Railway Station, Guangzhou Railway Station and the provincial and city government offices. Line 2 is also linked to Line 3, which connects to the Guangzhou Baiyun International Airport just nine stops away from Baiyun Park subway station. Baiyun Park subway station is set to become an interchange for Line 2 and the upcoming Line 12, when the latter begins operation in 2020. The eight-storey shopping mall (from Basement 2 to Level 6) will have a total gross floor area (“GFA”), excluding car park, of about 86,000 square metres (“sq m”). Shoppers will have access to approximately 1,620 car park spaces available at the integrated development’s car park. Positioned as a one-stop shopping destination, the proposed mall will be anchored by a lifestyle supermarket and cineplex, and will house popular international and local fashion brands, as well as a wide range of food & beverage outlets. Targeted to open in phases from 2014, the mall will serve a population catchment of about 1.1 million people within a 3-km radius. Within a 5-km radius, its reach extends to about 5.7 million people. On a completed basis, the total investment cost for the shopping mall is expected to be about RMB2,646.0 million (S$534.1 million / HK$3,340.7 million). Mr Lim Beng Chee, CEO of CapitaMalls Asia, said, “As the capital of Guangdong Province, Guangzhou has the most developed economy in the Pearl River Delta. Its 2012 GDP was the third largest in China, after Shanghai and Beijing. At about RMB30,500 (S$6,157 / HK$38,508), its 2012 per capita consumer spending was the highest among the four first-tier Chinese cities, which also include Beijing, Shanghai and Shenzhen. From January to August 2013, Guangzhou’s retail sales grew 15.9% year-on-year, above the national average of 12.8%. With Guangzhou’s strong economic fundamentals, we are confident about the growth prospects of its retail sector.” “Our proposed mall is located in Baiyun New Town, which is set to become the new regional centre of northern Guangzhou. It is also home to high-end residences, a new commercial centre, as well as conference, cultural and leisure facilities. When our mall is completed, it will cater to the middle and upper-middle income residents and professionals living and working in Baiyun New Town and the larger Baiyun District. The new mall will be a one-stop shopping destination that meets the lifestyle needs and aspirations of the community, as well as offers quality space for retailers keen to expand in this first-tier Chinese city with good growth prospects.” 2 “This new mall in Guangzhou will mark our strategic entry into a first-tier city in South China. It will bring the number of our malls in the region to eight 1, of which four 2 – including the new mall – are located within or about an hour’s drive from one another. We will leverage on our established team in South China, which has been in Guangdong Province since 2005, to manage the new mall. This acquisition is part of our growth strategy to selectively expand our footprint in China, while strengthening our presence in the cities and regions we are already in.” Including this development, CapitaMalls Asia now has 62 shopping malls in 37 cities in China, of which 51 are operational while the other 11 are under development. Summary of proposed shopping mall in Baiyun District in Guangzhou Overall An eight-storey shopping mall (from Basement 2 to Level 6), that is part of an integrated development that also comprises an office tower. Location Located prominently at the junction of Yuncheng West Road and Qixin Road within the core commercial centre of Baiyun New Town in Baiyun District. About 8 km from the central business district at Pearl River New Town and 23 km from Guangzhou Baiyun International Airport. Population catchment of about 1.1 million people within a 3- km radius. Within a 5-km radius, its reach extends to about 5.7 million people. Site area 39,780 sq m (entire integrated development) GFA (excluding car park) 86,000 sq m (approximate) No. of car park spaces About 1,620 (entire integrated development) Land use tenure 40 years, expiring in 2051 1 With this acquisition, CapitaMalls Asia has eight malls in South China. The other seven malls are CapitaMall Dongguan in Dongguan, CapitaMall Guicheng in Foshan, CapitaMall Maoming in Maoming, CapitaMall Quanzhou in Quanzhou, CapitaMall Zhangzhou in Zhangzhou, CapitaMall Zhanjiang in Zhanjiang, and CapitaMall Zhaoqing in Zhaoqing. 2 The four malls are CapitaMall Dongguan, CapitaMall Guicheng, CapitaMall Zhaoqing and this new mall. 3 About CapitaMalls Asia ( www.capitamallsasia.com ) CapitaMalls Asia Limited is one of the largest listed shopping mall developers, owners and managers in Asia by total property value of assets and geographic reach. CapitaMalls Asia has an integrated shopping mall business model encompassing retail real estate investment, development, mall operations, asset management and fund management capabilities. It has interests in and manages a pan-Asian portfolio of 104 shopping malls across 53 cities in the five countries of Singapore, China, Malaysia, Japan and India, with a total property value of approximately S$34.4 billion (HK$215.1 billion) and a total GFA of approximately 97.0 million sq ft. Shopping malls in the portfolio include ION Orchard and Plaza Singapura – which are located in one of the world’s most famous shopping streets, Orchard Road – Raffles City Singapore and Clarke Quay in Singapore. Our landmark shopping malls in China are CapitaMall Crystal in Beijing, Hongkou Plaza in Shanghai and Raffles City Shanghai; and CapitaMall Jinniu in Chengdu. The portfolio also includes Gurney Plaza in Penang, Malaysia; Olinas Mall in Tokyo, Japan; as well as Forum Value Mall in Bangalore, India. CapitaMalls Asia’s principal business strategy is to invest in, develop and manage a diversified portfolio of real estate used primarily for retail purposes in Asia, and to strengthen its market position as a leading developer, owner and manager of shopping malls in Asia. Issued by: CapitaMalls Asia Limited (Co. Regn.: 200413169H) Date: 20 November 2013 Analyst Media Teng Li Yeng Lim Seng Jin Senior Manager, Investor Relations Head, Corporate Communications and Marketing Tel: +65 6826 5357 Tel: +65 6826 5778 Email: [email protected] Email: [email protected] 4 .
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