CapitaLand pledges RMB1 mil to support Chongqing flood relief efforts

/ EdgeProp Singapore |
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  • In Chongqing, CapitaLand operates the integrated development Raffles City Chongqing. The developer says the project is unaffected by the flooding

  • But two properties under The Ascott, CapitaLand's wholly owned lodging arm, were affected by the flood.

SINGAPORE (EDGEPROP) - CapitaLand, through its philanthropic arm, CapitaLand Hope, has pledged up to RMB1 million ($198,098) in donations to support flood relief efforts in Chongqing, China. The real estate developer says it is working with local community partners to disburse the donations.
The philanthropic efforts follow intense floods in Chongqing, which has upgraded its flood control response to the highest level. Parts of Chongqing city abutting the river, including key arterial roads, were flooded on Aug 20.
CapitaLand operates Raffles City Chongqing, an integrated development with a shopping mall, residential apartments, office towers, Ascott Raffles City Chongqing, Intercontinental Chongqing Raffles City, and The Crystal sky bridge.
Raffles City Chongqing remained above water levels during Chongqing’s worst flood in decades. (Picture: CapitaLand)
Raffles City Chongqing is located at the confluence of the Yangtze and Jialing rivers, and features flood mitigation engineering solutions. The flood barrier around the development has not been breached, but a team is on standby to monitor potential water leakages and functioning drainage systems, says CapitaLand.
The basement carpark has not been affected by the flood and the entire development is reportedly open for business as usual, the developer says.
“The flood situation in Chongqing has put to the test CapitaLand’s project design and development capabilities, property management skills and commitment to its customers. I am heartened that our ground team in Chongqing has done right by the community and has taken good care of our stakeholders while minimising the impact of the flood to our business,” says Lee Chee Koon, group CEO of CapitaLand Group and director of CapitaLand Hope Foundation.
Raffles City Chongqing remains open for business, says CapitaLand. (Picture: CapitaLand)
A second integrated development in the city, comprising residential apartments and a shopping mall, is currently under construction. The developer’s wholly owned lodging arm, The Ascott, also manages five other serviced residences in Chongqing.
Two serviced residences by Ascott are affected by the flooding, namely Ascott Nanbin Chongqing and Somerset Yangtze River Chongqing. In-house guests were relocated to the group’s in-land properties and will be moving back this week.
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