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CAPITALAND Ltd, through its wholly-owned shopping mall business, CapitaLand Mall Asia, on Tuesday said it has signed its first third-party mall management contract in Singapore with Singapore Post (SingPost) for its upcoming mall at the new SingPost Centre.
Under the contract, CapitaLand will oversee the pre-opening and retail management for the five-storey SingPost Centre mall.
This is the third mall management contract that CapitaLand has inked in slightly over six months, after securing the first two in China. CapitaLand announced last August it planned to enlarge its retail footprint through management contracts with the signing of an agreement to manage the retail component of Fortune Finance Center in Changsha, China.
In January this year, CapitaLand signed another agreement to manage a mall in La Botanica township in Xi'an, China.