CapitaLand to grow China new economy assets to $5b

CapitaLand has targeted to grow its exposure of business park, industrial and logistics assets in China to $5 billion over the next few years, from $1.5 billion. This will be done by redeploying part of the capital from asset recycling to these assets, said the property giant yesterday. CapitaLand said tenants from these sectors typically enjoy “robust fundamentals and a supportive regulatory environment”. As part of CapitaLand’s active recycling, CapitaLand Retail China Trust (CRCT) has been designated the group’s real estate investment trust (Reit) platform for non-lodging assets in China, with access to CapitaLand’s pipeline in the country. CRCT will…