Capitaland said it targets to introduce an average of 3,000 residential units in China annually as part of its growth strategy in the country.

 

The company, which has 36 shopping malls in operation in China, has another 16 under development, Singapore-based Capitaland said in presentation materials filed to the stock exchange today. It also plans to expand the number of its serviced residences to 12,000 units by 2015, from 6,246 currently.

 

CapitaLand aims to complete construction of another four “Raffles City” mall projects by 2014, adding to two operating in the country.

 

Capitaland also said it targets to expand the portfolio of Ascott  to 40,000 units by 2015 from 26,000 currently. The portfolio includes properties in Asia and Europe, the company said.