SINGAPORE (Kyodo) CapitaLand Ltd., Southeast Asia's largest listed property developer, is poised to sharply expand its business in Japan as the economy has effectively overcome deflation, a symbol of its decade-long slump.
The Singapore-based real estate giant plans to up the number of shopping malls it operates in Japan to 15 or 20 from four in two years, said Pua Seck Guan, the chief executive officer of CapitaLand Retail Ltd., the retail property business unit of CapitaLand.
In value terms, the size of these commercial investments would quadruple to 147.0 billion yen from 39.1 billion yen.