CapitaLand to open 8 malls in 2017

CAPITALAND will open eight malls in Asia in 2017 with almost one million square metres of gross floor area, the property developer announced on Thursday.

Through wholly-owned CapitaLand Mall Asia, CapitaLand will open six malls in China, one in Malaysia and one in India. The first mall will open in the second quarter of 2017, and the last one in the fourth quarter.

"As at Sept 30, 2016, 76 per cent of CapitaLand's total assets contribute to recurring income, of which shopping malls and integrated developments form the bulk," CapitaLand Mall Asia chief executive Jason Leow said in a statement.