CapitaLand Investment, a real estate investment and management firm, and AIA, a Hong Kong-based multinational insurance and finance corporation, agreed to form a $333m joint venture, to recapitalise Grade A office building in Beijing. “Despite a challenging fundraising and operating environment, we have successfully brought in AIA as a joint venture partner in Capital Square Beijing as part of our disciplined capital management. CLI’s joint venture with AIA demonstrates the trust that capital partners have in our on-the-ground expertise to unlock value from our assets and deliver strong returns. This is the second time we are partnering with AIA in China, following their investment in one of our RMB funds in 2022,” Puah Tze Shyang, CapitaLand Investment CEO.