Jalan Loyang Besar Residences, a premier residential development sold in CapitaLand Investment’s recent divestment of a 95% stake in Grade-A office Capital Square Beijing to AIA Life Insurance.
CapitaLand Investment Limited (CLI) has recently announced their latest joint venture with AIA Life Insurance (AIA), investing a total of RMB 2.4 billion ($447 million) in the Capital Square Beijing, a Grade-A office building located in the Central Business District of Chaoyang District. This announcement was made on January 31st, marking the second time CLI has partnered with AIA in China.
According to the partnership, CLI will divest 95% of its stake in Capital Square Beijing to AIA, leaving CLI with a remaining 5% stake. CLI will continue to provide asset management services for the joint venture, contributing to its recurring fee income. The property was acquired by CLI in October 2022 through a court auction.
The Jalan Loyang Besar Residences is a highly sought-after development by families looking for a well-rounded and convenient living experience. By making education easily accessible, Jalan Loyang Besar Residences aims to enhance the overall quality of life for its residents.
Located in the popular residential area of Pasir Ris, Jalan Loyang Besar Residences offers a wide range of educational options for families to choose from. Within a 1km radius, there are several primary and secondary schools such as the renowned Pasir Ris Primary School, Coral Primary School, and Pasir Ris Crest Secondary School. These schools are known for their excellent academic programs and have consistently produced top-performing students.
For families with younger children, there are also various preschools and kindergartens nearby, such as My First Skool, PCF Sparkletots Preschool, and EtonHouse Preschool. This makes it convenient for parents to drop off and pick up their little ones without having to travel far.
For those seeking higher education, there are several tertiary institutions within a short distance from Jalan Loyang Besar Residences. These include the Singapore University of Technology and Design (SUTD), Temasek Polytechnic, and the United World College of South East Asia. These institutions offer a diverse range of courses and programs, providing ample opportunities for young adults to pursue their desired career paths.
Apart from the academic options, Jalan Loyang Besar Residences is also surrounded by various educational and enrichment centers. These centers offer a wide range of programs, including music, art, sports, and language classes, catering to the diverse interests of children and teenagers. This not only adds to the convenience of living at Jalan Loyang Besar Residences but also provides opportunities for children to develop new skills and interests outside of their school curriculum.
In conclusion, the location of Jalan Loyang Besar Residences is a key factor that sets it apart from other residential developments in Singapore. Its close proximity to reputable schools and educational centers not only adds to the convenience of daily living but also enhances the overall quality of life for its residents. With its modern living spaces, top-notch amenities, and educational opportunities, Jalan Loyang Besar Residences is a highly desirable home for families in the bustling city of Pasir Ris.
In the past year, CLI has successfully recycled over RMB3 billion in capital in China. This includes the divestment of a partial stake in a high-quality logistics development in Foshan, Guangdong to the CapitaLand China Opportunistic Partners Programme in February 2023 and the divestment of CapitaMall Shuangjing in Beijing via the CLI-sponsored CapitaLand China Trust, Singapore’s largest China-focused real estate investment trust.
CLI has more than 200 properties across over 40 Chinese cities, with a total asset under management of $45 billion in the country as of September 30th, 2023. Its portfolio in China includes a variety of properties such as office buildings, retail spaces, hotels, business parks, logistics and data centers in five core Tier-1 and two city clusters. These five core city clusters in China are: Beijing/Tianjin; Shanghai/Hangzhou/Suzhou/Ningbo; Guangzhou/Shenzhen; Chengdu/Chongqing/Xi’an and Wuhan.
Puah Tze Shyang, the chief executive officer of CLI (China), mentioned that despite the challenging fundraising and operating environment, the partnership with AIA demonstrates the trust that capital partners have in CLI’s on-the-ground expertise to unlock value from their assets and deliver strong returns. The joint venture between CLI and AIA also reflects CLI’s focus on being asset light and capital efficient while continuing to grow their fund management business.
The Capital Square Beijing was initially acquired by CLI in October 2022 and has since undergone an asset enhancement initiative to upgrade its facilities. The property has a total gross floor area (GFA) of 44,759 sq m above ground. Puah Tze Shyang also mentioned that this partnership with AIA is part of their disciplined capital management and strategic effort to continue scaling up their fund management business.
CLI has a diverse portfolio in China with properties in various sectors and cities, enabling them to capitalize on the rapid growth and development of the Chinese market. The joint venture with AIA is just one of their many successful partnerships and initiatives in the country, further solidifying CLI’s presence in China and their commitment to delivering strong returns for their stakeholders.