CapitaLand debuts asset-light strategy with third-party management contract in Changsha

SINGAPORE (Aug 31): CapitaLand Mall Asia Limited, CapitaLand’s wholly owned shopping mall business, has signed a management contract to manage the retail component of the landmark Fortune Finance Center in Changsha, the provincial capital of Hunan in Central China.

This marks the beginning of CapitaLand’s enhanced asset-light strategy to enlarge its mall network through third-party management contracts to complement its core strategy of developing, owning and managing malls.

“By managing quality third-party malls for which we have a right of first refusal to acquire, we are also paving the way for future acquisitions,” says Jason Leow, CEO of CapitaLand Mall Asia. “Through third-party management contracts, we are able to take advantage of market opportunities to rapidly scale up our mall network in an asset-light manner.”

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