CapitaLand chief operating officer Lim Ming Yan said should the company decide to do that, the plan would not happen in the near future because five out of seven of its projects, under its Raffles City brand, in China were still under development, according to the report.
“That's always an option, obviously, but you have to wait for the right market timing. I think it's still too early. We have two operating Raffles City (projects) in China, the other five are still under development,” Lim said.
CapitaLand, 40%-owned by Singapore state investor Temasek Holdings, said the projects, with a total commercial floor area of more than 2.1 million sq m, were expected to be worth S$7bil (US$5.33bil) in total upon completion, the report said.
Lim also said the company was looking to start a few new private-equity funds, but did not give further details, it said.
CapitaLand was not immediately available for comment.
By Reuters
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