CapitaLand has been something of a market leader following its formation from the merger of DBS Land and Pidemco in 2000. In 2002, it listed the first REIT, CapitaLand Mall Trust, which is now part of CapitaLand Integrated Commercial Trust. It was also CapitaLand which made a success of its China foray. Of course, there are strategies and focuses that cannot be copied, such as the Raffles City brand name.

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