CapitaLand reports full-year profits 8.7% lower at $849.8 million
Property heavyweight Capitaland on Wednesday said that it plans to keep its focus on its core markets of Singapore and China to grow its business.
It also reported profits for the full year ended Dec 31 which came in at $849.8 million, down 8.7 per cent from the corresponding period a year ago.
Mr Lim Ming Yan, president and group chief executive of CapitaLand reiterated that the firm will develop more integrated and mixed-use developments in those markets to leverage its capabilities in developing malls, homes, offices and serviced apartments.
He added in a statement that prospects in China, where it has operated for 20 years, are optimistic as urbanisation and growth in income drive domestic demand.