A Step To Bigger Things in China

CapitaLand begins on its biggest investment in China with the groundbreaking of Raffles City Chongqing

Issue: Oct 2012

Raffles City Chongqing is not only CapitaLand’s biggest single investment in China, it is also the largest single investment by any Singapore company in the country
Raffles City Chongqing is not only CapitaLand’s biggest single investment in China, it is also the largest single investment by any Singapore company in the country

It was a momentous occasion in September when some 150 guests, including representatives and business partners, gathered to witness the groundbreaking for Raffles City Chongqing. The mixed development is jointly owned by CapitaLand, CapitaMalls Asia and Singbridge Holdings, a developer which specialises in large-scale sustainable urban development; and represents a big step for CapitaLand on many counts. Presiding over the prestigious Chao Tian Men area at the heart of Chongqing’s popular Yuzhong district where the Yangtze and Jialing Rivers meet, it is the Group’s biggest single investment in the country and also the largest ever made by any Singapore company. In total, development cost for the project is expected to amount to RMB 21.1 billion (S$4.2 billion / HK$25.8 billion).

 Gracing the groundbreaking ceremony are Mr Tang Yingyu, Governor of Yuzhong District in Chongqing; Mr Pang Te Cheng, Consul General of Consulate General of the Republic of Singapore in Chengdu ; Mr Liew Mun Leong, President & CEO of CapitaLand Group; Mr Huang Qifan, Mayor of Chongqing; Mr Wong Kan Seng, Chairman of Singbridge Holdings; Mr Ling Yueming, Vice Mayor of Chongqing and Mr Liu Qiang, Yuzhong District Party Secretary
Gracing the groundbreaking ceremony are Mr Tang Yingyu, Governor of Yuzhong District in Chongqing; Mr Pang Te Cheng, Consul General of Consulate General of the Republic of Singapore in Chengdu ; Mr Liew Mun Leong, President & CEO of CapitaLand Group; Mr Huang Qifan, Mayor of Chongqing; Mr Wong Kan Seng, Chairman of Singbridge Holdings; Mr Ling Yueming, Vice Mayor of Chongqing and Mr Liu Qiang, Yuzhong District Party Secretary

In a ceremony graced by the Mayor of Chongqing, Mr Huang Qifan; Chairman of Singbridge, Mr Wong Kan Seng; officials from the city and Yuzhong District governments; and top management from both CapitaLand and Singbridge, Mr Liew Mun Leong, President and CEO of CapitaLand Group said, “Today’s groundbreaking marks a key milestone for CapitaLand. With the well-established Raffles City branding, coupled with the design concept by internationally renowned architect Moshe Safdie and its prime location, the potential of Raffles City Chongqing is immeasurable.

Mr Liew added that the project is a mark of CapitaLand’s commitment to China and its firm conviction in the country’s continued economic prospects. China is one of its core markets, accounting for 41 per cent of the Group’s total assets.

According to Mr Lim Ming Yan, Chief Operating Officer of CapitaLand Limited, thanks to the support from municipal and district governments, it had taken less than a year to acquire the land, sign the cooperation agreement in the earlier part of the year and break ground for Raffles City Chongqing.

“In tandem with the rapid economic growth of western China, Chongqing has been actively attracting high-end investment projects and investors who will help create a new economic centre upstream of the Yangtze River and generate business opportunities further inland. Raffles City Chongqing is one such project. The Chongqing Municipal Government is pleased to give its full support to Raffles City Chongqing and help its transformation into the city’s new icon,” said Mr Huang Qifan, Mayor of Chongqing.

Moshe Safdie designed Raffles City Chongqing to evoke the image of a powerful sail cutting through strong wind and waves, drawing inspiration from is location by the river
Moshe Safdie designed Raffles City Chongqing to evoke the image of a powerful sail cutting through strong wind and waves, drawing inspiration from is location by the river

Big on Design

Raffles City Chongqing is designed by internationally acclaimed architect Moshe Safdie who is the man behind world class icons like Marina Bay Sands and the United States Institute of Peace in Washington DC. The newest integrated development in Chongqing will include a five-storey shopping mall; and six towers comprising luxury residences offering waterfront living, Grade A office towers, serviced residences and a hotel with a conservatory hull all in a total construction floor area of over 1.03million square metres.

Not only is it in a prime location, the development will also be integrated with a transport hub which includes a metro station, bus interchange, ferry terminal and cruise centre. In addition, it will be connected to the key districts of Jiangbei and Nan’an via bridges that are expected to be completed next year.

Big-hearted

In every city that CapitaLand has presence in, it not only seeks to build for the people there, it also aims to give back to the society. At the ceremony, CapitaLand promised to build yet another CapitaLand Hope School, reiterating its commitment to sustainability through philanthropy, a mission in keeping with its credo of “Building People”. The new school will be in Tucheng Village of Wuxi County, Yuzhong district’s adopted village and will be CapitaLand’s 23rd Hope School built in the country. CapitaLand’s philanthropic arm, CapitaLand Hope Foundation (CHF), supports underprivileged children by giving them shelter, education and healthcare with 0.5 per cent of the Group’s net profits given to it each year. Since 2005, CHF has donated more than S$17 million (HK$105 million) to support underprivileged children across Asia.

With Raffles City Chongqing, CapitaLand is poised to transform the landscape of the city, create a buzz that it has yet experienced and make its biggest contribution to China yet.

Comments
User derek seah
119.74.27.X | 2016-10-31 06:18:16
Like to know if developer do managment of unit for owner since it is quite far away. What us likely the rental rate of the unit
User CapitaLand
202.79.215.X | 2015-05-25 11:08:43
Hi Mr Gwee

Thanks for sharing your thoughts about our Raffles City Chongqing integrated development which is progressing well. Do look out for our June issue for updates on the project. Have a wonderful day!
User Jim
101.127.184.X | 2014-09-11 10:08:31
Hi,

I am a Singaporean and staying in Singapore. I am very interested to purchase a unit in Raffles City Chongqing and may want to stay in Chongqing in the future. How do I proceed with the purchase? Eg. can non china citizen buy this project and what is the loan arrangement?
User CapitaLand
202.79.215.X | 2014-09-11 17:51:00
Hi Jim,

Thank you for your interest in Raffles City Chongqing. We have forwarded your query to the relevant department and they will be in contact with you shortly.
User JIm
61.8.193.X | 2015-04-06 09:13:36
Hi,

it has been 6 months and I have not hear from your colleague. Could I have missed his/her email?

Regards,
Jim
User CapitaLand
202.79.215.X | 2015-04-06 09:36:46
Dear Jim,

Thank you for your kind follow up. We are in the midst of checking with our relevant department in China on this matter.

Thank you for your kind patience Jim. Have a good day ahead.
User Jim
61.8.193.X | 2015-04-06 13:59:56
Hi,

thank you and looking forward to your reply via email.

Would be great if your company can share more details such as leasing on behalf of owners, etc.

Regards,
Jim
User Mr Gwee Yew Guan
183.228.189.X | 2013-09-25 16:08:05
My Grand-father came from Fujian Xiamen ( Tong'an ) My father born in Singapore - told me go to seek where developments have not started ! I have already invested here some 7 years ago.

My friend from SM Corp Philippines ( Mr. Hendry Sy )have completed his SM Mall Chongqing last year 2012.

Time Square ( Hong Kong ) were the earliest !

Who will be next is a Guess ? The Airport is expending too Fast ! The planes landing are now getting bigger. The Peak will be in the next 8 to 15 Years.

Well done Capital Land for eyeing and securing this Very Very Super Prime piece of Land in Chongqing for A Raffles
City Development.

The implant of this great Designed Building on these two Rivers mouths meeting will remind Old History of Wild West of China in mankind and industrialisations of Hard working
people of Chongqing all in labour efforts to pull bigger ships up-streams.

An Old Sail or Hard wooden Mask should be a Very Good designed incorporated.

Don't forget a small Play-ground Landings for very old-folks who still loved to fly their nice unusual kites there ( just like our Marina Bay Garden )

Good Luck knowledge and History must be shared.

Mr. Gwee Yew Guan Lawrence
Age 63 +

User Gwee Yew Guan Lawrence
49.199.42.X | 2015-05-23 21:21:04
Hi

I am surprised my draft mail dated
25/09/2013 is still intact.
No one acknowledge receipt?
Your site - say my Gmail is invalid?
I seen Capitaland reply to Jim on his post.
Just wonder how I can shared my post comment?
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