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Property

Singapore's CapitaLand splits ahead of COVID recovery

Temasek-backed Asian property company sees better future as two units

Singapore's CapitaLand, one of Asia’s largest property companies, is restructuring as two units -- and sees light at the end of the COVID-19 tunnel.     © Reuters

SINGAPORE -- Singapore's CapitaLand, one of Asia's largest real estate companies, announced on Monday a plan to split into two units, with one focused on investment management and the other on property development.

Listed on the Singapore Exchange, CapitaLand is backed by Temasek, a state investor. Its real estate investment trusts, investment management and lodging units will be run by a new entity: CapitaLand Investment Management (CLIM).

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