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CapitaLand sells 95% stake in Beijing asset to AIA Life



CapitaLand Investment Limited (CLI) is divesting a 95% stake in Capital Square Beijing to AIA Life Insurance for CNY2.4bn (USD336m) in a joint venture. CLI retains a 5% interest and will provide asset management services, expected to enhance its recurring fee income. This marks the second collaboration between CLI and AIA in China, emphasising CLI’s strategy towards an asset-light and capital-efficient approach. Capital Square Beijing, located in the Chaoyang District, was acquired by CLI in October 2022 and has undergone significant enhancements to improve its facilities and operational efficiencies. Following the announcement, CLI’s shares saw a minor dip on Wednesday.

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