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CapitaLand to manage retail podium of Fortune Finance Center

cheeyuen.tan@bizedge.com
Updated

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.

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