CapitaLand will be 'stronger than before'

ECONOMIC slowdowns in its core markets will have an impact on CapitaLand's performance for the first half of this year, but the Singapore property heavyweight is working on strengthening its position so it emerges ahead of the competition after the pandemic. It is incorporating digital solutions into the slate of services it offers to its tenants and is looking out for investment opportunities that will boost the resilience of its portfolio.

In his first media interview since the onset of the pandemic, CapitaLand's group chief executive officer Lee Chee Koon told The Business Times that the past months have been challenging for the group. CapitaLand had a strong 2019 and had set ambitious targets at the start of the year. But 2020 has taken some "unexpected turns", Mr Lee said.

The Covid-19 pandemic has affected the group's residential, retail and lodging businesses. Its offices, business parks, logistics and multifamily properties, meanwhile, have remained relatively resilient.