Southeast Asia’s largest property developer CapitaLand (CATL.SI) is open to the idea of a listing in China, where the firm’s shopping mall unit plans on almost doubling its number of properties, Singapore’s Business Times newspaper reported on Wednesday.

CapitaMalls Asia (CMAL.SI) (CMA), a unit of CapitaLand, hopes to have around 100 malls from 53 now in China within the next three to five years.

“It’s quite an easy target,” given the country’s huge population, of which 400 million are in the middle class, CMA chairman and CapitaLand CEO Liew Mun Leong told a news conference on Tuesday.

Liew said it would be ‘commercially logical’ to list its operations in China, since much of the group’s business is in the mainland and it would be able to raise funds in yuan.

“It’s a question of when the Chinese authorities will open up for us,” he said.

As of September last year, China accounted for 34% of CMA’s $21.6 billion property value. For CapitaLand, China contributed some 18% of the total revenue of $684.6 million in the third quarter.