CapitaLand unit sells Orchid Garden site in Beijing for $4.2m

The site is a clubhose for residential development.

CapitaLand’s subsidiary in China has fully sold Beijing CapitaLand Property Management (BCPM) for a cash consideration of $4.2m (RMB20.8m), an announcement revealed.

BCPM owns the clubhouse for residential development known as Orchid Garden in Beijing and 137 carpark lots in the residential development known as La Foret in Beijing. The properties were sold to a party unrelated to CapitaLand.

Following completion of the divestment, BCPM has ceased to be a wholly owned subsidiary of CapitaLand.

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