CapitaLand China Trust Management Limited (CLCTML), through its wholly owned subsidiary, has entered into an agreement to divest its entire equity interest in CapitaRetail Beijing Shuangjing Real Estate Co., Ltd., which holds CapitaMall Shuangjing, to an unrelated third party based on an agreed price of the property of RMB842.0 million ($117.74 million).
“As part of our proactive portfolio management strategy, we are constantly on the lookout for opportunities to monetize noncore assets and capitalize on investment prospects that will strengthen the quality of our portfolio,” said Tan Tze Wooi, CEO of CLCTML. “CapitaMall Shuangjing is a predominantly master-leased mall that would require significant capital outlay and planning downtime to repurpose the building
