CapitaLand inks investment deal for central China development

It's eyeing expansion under its “core city clusters, dominant assets” strategy.

CapitaLand, through its subsidiary CapitaLand China, is looking to invest in a proposed integrated development in Wuchang, Hubei, within central China.

According to a press release, CapitaLand signed a memorandum of understanding (MOU) with the district government to explore the investment.

"The potential scale of the proposed integrated development on the site is expected to surpass all CapitaLand’s existing properties in central China," CapitaLand said.

The company said that it is eyeing expansion through its “core city clusters, dominant assets” strategy.

The MoU is not legally binding. Both parties will further negotiate for the detailed terms of the cooperation if and when entering into definitive agreements.