CapitaLand to manage retail podium of Fortune Finance Center

By Tan Chee Yuen / CapitaLand | September 1, 2016 9:41 AM SGT
CapitaLand has inked a contract with Changsha Pilot Investment Holdings Group to manage the retail component of Fortune Finance Center in Changsha, China. This marks the start of CapitaLand’s asset-light strategy to grow its mall network through third-party management contracts.
CapitaLand will be involved in asset planning, pre-opening and retail management for a total GFA, excluding car park, of about one million sq ft. The mall is currently under construction and scheduled to be completed by end-2018.
Fortune Finance Center is located in Binjiang New Area, the new CBD in western Changsha. It comprises a seven-storey shopping mall, a Grade A office building, a residential tower and Changsha’s first JW Marriott hotel. The property is owned and developed by Changsha Pilot Investment Holdings.