SINGAPORE (Aug 23): CapitaLand’s recent acquisitions in Singapore and China show continued efforts to recycle capital and rebalance its portfolio mix, say analysts.

Recently, CapitaLand acquired a Sengkang Central mixed-use site in partnership with City Developments with a winning bid of $777.8 million or $923.6 psf ppr.

CapitaLand-CDL JV secures prime site in Sengkang Central for $777.8 mil. The revised additional buyer’s stamp duty (ABSD) charges will not apply for this project as the tender closed on June 21 before the latest cooling measures.

Read more on The Edge Singapore.