SINGAPORE (June 14): CapitaMall Xuefu and CapitaMall Aidemengdun in Harbin, Heilongjiang province, and CapitaMall Yuhuating in Changsha, Hunan province are three malls that CapitaLand Retail China Trust plans to acquire from CapitaLand, subject to unitholders’ approval in an extraordinary general meeting.

Indeed, unless unitholders have visited the properties, some may have difficulty recalling the names of CRCT’s 11 malls in China.

As at March 31, they were ­ CapitaMall Xizhimen, CapitaMall Wangjing, Capita­Mall Grand Canyon and CapitaMall Shuangjing in Beijing; Rock Square (51% interest) in Guangzhou; CapitaMall Xinnan in Chengdu; CapitaMall Qibao in Shanghai; CapitaMall Minzhongleyuan in Wuhan; Capita­Mall Erqi in Zhengzhou; CapitaMall Saihan in Hohhot (Inner Mongolia); and CapitaMall Wuhu in Anhui province.

CapitaMall Wuhu will be divested by the end of this month to an unrelated third party.

Of the remaining 10, seven are multi-tenanted malls, two are master leased malls and one mall is being reconfigured. They are collectively valued at $3.11 billion.

For unitholders concerned that their real estate investment trust (REIT) is acquiring malls in far-off places that they rarely visit, Tan Tze Wooi, CEO of CRCT’s manager gives the assurance that the acquisitions are accretive to distributions per unit (DPUs), and not just to net property income yield and distribution yield.

Find out more about CRCT’s business model for its malls and its acquisition plans in this week’s issue of The Edge Singapore (Issue 886, week of June 17), on sale now at newsstands. Subscribers can log in and read the story or click here to subscribe.