CapitaLand to acquire four properties in China for $260m.

CapitaLand, a Singaporean multinational alternative asset management company, to acquire four properties in Shanghai, Kunshan, Wuhan and Chengdu for $260m. "We are pleased to mark CLCT’s entry into China’s burgeoning logistics sector with a quality portfolio of logistics assets, in an investment that is aligned with China’s plans for a domestic consumption-driven, higher-value and service-led economy. The acquisition will enable CLCT to tap China’s strong demand for logistics properties, which is supported by conducive government policies and boosted by an accelerated growth in e-commerce. The continuing favourable supply-demand dynamics in China’s logistics properties market with robust net absorption are expected to sustain rental growth for prime logistics assets," Tan Tze Wooi, CLCTML CEO.