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CapitaLand unit inks three China mall management contracts

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Artist's impression of the Leshijie integrated development in Chengdu, due to open in 2019. CapitaLand will oversee asset planning, pre-opening and retail management of the mall there.

PROPERTY developer CapitaLand said that it has, through shopping mall business CapitaLand Mall Asia, signed three new management contracts in China.

In Chengdu, CapitaLand has been commissioned by Sichuan Da Yi Real Estate Co Ltd to manage the retail component of Leshijie, an integrated development in Pidu district.

In Foshan, CapitaLand will be managing the retail component of Hehua International Commercial Plaza, an integrated development near Foshan's border with Guangzhou, on behalf of Hehua Shengshi (Foshan) Property Development Co Ltd.

In Shanghai, CapitaLand will manage the retail component of Capital Square, an integrated development that it is jointly developing with Shanghai Shentong Metro Group.

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Said CapitaLand in a press release: "These deals add more than 115,000 square metres of gross floor area, excluding car parks, to CapitaLand's retail footprint; and entrench the group's presence in Chengdu, Foshan and Shanghai, which are among China's 10 largest cities."

CapitaLand last traded at S$3.52.

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