As one of the first foreign developers in China more than 20 years ago, CapitaLand is honored to have contributed to and benefited from the country's economic development and urbanization.

As a Singaporean enterprise in China, CapitaLand leveraged its domain expertise to further strengthen Singapore-China exchanges and contributed toward the development of the real estate industry, as well as China's urbanization, during the past two decades.

In turn, it has benefited greatly from China's rapid economic growth and pro-business environment as well as the strong Singapore-China bilateral ties.

China is one of CapitaLand's core markets and accounted for 46 percent, or 97.5 billion yuan ($15.35 billion), of the group's total assets of 212.7 billion yuan (excluding treasury cash), as of Sept 30.

From its first property in Shanghai in 1994, CapitaLand has since expanded its footprint to 48 cities in China. It has established itself as a leading developer in the country with a diversified portfolio of integrated developments, shopping malls, serviced residences, offices and homes. The group owns or manages more than 160 properties in China with a gross floor area of about 22 million square meters worth 145.3 billion yuan (excluding properties under management contracts). It also has one of the largest real estate fund management businesses in China.

Looking ahead, CapitaLand will focus its growth in five city clusters in China: Beijing and Tianjin; Shanghai, Hangzhou, Suzhou and Ningbo; Guangzhou and Shenzhen; Chengdu and Chongqing; and Wuhan.

As a long-term investor in China, CapitaLand said it would continue to develop quality and innovative real estate products and services to build a better life for the Chinese community.

zhuanti@chinadaily.com.cn