SINGAPORE (Oct 8): Lee Chee Koon, CEO of local property behemoth CapitaLand, wants to build a resilient and diversified portfolio across different asset classes and geographies, as well as across emerging and developed markets. 

“We should also be able to deliver double-digit returns on a sustainable basis. When we choose a geography or asset class, it’s important to choose one that we can scale,” he says on the sidelines of Funan’s topping out ceremony on Sept 28.

Since Lee took over the reins, CapitaLand has announced the proposed acquisition of a US-based multi-family portfolio for US$835 million ($1.14 billion). Ascott Residence Trust announced it had acquired a site in one-north for $62.4 million for its maiden development project, and CapitaLand announced it had invested $27 million in a 50% stake in co-working operator, The Work Project. CapitaLand owns around 44% of ART, which in turn holds $5.3 billion of serviced residence properties in 14 countries. The Work Project has taken up space in Capital Tower and Asia Square Tower 2, which are owned by ­CapitaLand Commercial Trust

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