Presentation by Jason Leow CEO, CapitaLand China · 11/12/2013 · Presentation by Jason Leow CEO, CapitaLand China 12 November 2013 . 2 ... including employee wages, benefits and

1 CapitaLand Presentation

CapitaLand Investors’ Day

Presentation by Jason Leow

CEO, CapitaLand China

12 November 2013


This presentation may contain forward-looking statements that involve risks and

uncertainties. Actual future performance, outcomes and results may differ materially

from those expressed in forward-looking statements as a result of a number of risks,

uncertainties and assumptions. Representative examples of these factors include

(without limitation) general industry and economic conditions, interest rate trends,

cost of capital and capital availability, availability of real estate properties,

competition from other companies and venues for the sale/distribution of goods

and services, shifts in customer demands, customers and partners, changes in

operating expenses, including employee wages, benefits and training,

governmental and public policy changes and the continued availability of

financing in the amounts and the terms necessary to support future business. You are

cautioned not to place undue reliance on these forward looking statements, which

are based on current view of management on future events.

Disclaimer

November 2013

Agenda

• 3Q 2013 Performance Update

• Residential Business in China

• Raffles City and Integrated Developments

• Concluding Remarks

Raffles City Shanghai, China

3Q 2013

Performance

Update


3Q 2013 Residential Sales Performance

November 2013

YoY sales remains healthy

• Launched ~700 units for sale in 3Q 2013

• 78% of launched units sold @

@ Units sold includes options issued up to 30 Sep 2013

* Includes Raffles City strata apartments.

255

955812

736911

707

0

500

1,000

1,500

2,000

2,500

YTD Sep 2012 YTD Sep 2013

Re

sid

en

tia

l U

nits*

1st Quarter 2nd Quarter 3rd Quarter

432

1,891 1,776

1,266

1,959

1,047

0

1,000

2,000

3,000

4,000

5,000


Sale

s V

alu

e (

RM

B m

illio

n)


2,398

1,978

4,204 4,167

↑21% Y-o-Y


Residential Homes Handed Over

November 2013

180 230 269

1,123 93

234

0

500

1,000

1,500

2,000


Resid

ential U

nits


143 284 768

2,324 141

1,498

0

1,000

2,000

3,000

4,000

5,000


Valu

e (

RM

B m

illion)


1,587

542

4,107

1,052

↑193% Y-o-Y ↑290% Y-o-Y

YTD Sep 2013 – TOP Projects:

The Paragon,

Shanghai

The Pinnacle,

Shanghai

Beaufort,

Beijing

The Loft,

Chengdu


New Residential Launch

November 2013

The Metropolis, Kunshan – Launch of new block

• 272 units launched on Oct 26

• Sold ~ 95% of launched units

within first 4 days. Sales value

~ RMB316m

The Metropolis, Kunshan


Recent Construction Start in Shanghai

November 2013

Nanmatou, Shanghai – Phase 2 Construction Started

Construction schedule on track: piling completed, structural construction in progress

Residential

Business in

China

The Pinnacle, Shanghai, China


Completed Consolidation of

Residential Business in China

CapitaLand China Residential Projects

CapitaLand Township Projects

Former CapitaValueHomes Projects

CapitaLand China Total Pipeline: >65k units, >7m sqm in GFA


Consolidated Residential Portfolio

Beijing

Shanghai

Kunshan

Ningbo

Guangzhou

Chengdu

Shenyang

Tianjin

Wuxi

Hangzhou

Foshan

Wuhan

Pipeline sufficient for the next 4 to 5 years • 27 residential projects • Total pipeline of >65k units and GFA of >7m sqm • Deepening presence in 5 city clusters

Xi’an


CapitaLand Township Projects 5 projects in 4 cities; ~39k units and GFA ~4m sqm

The Botanica, Chengdu

GFA ~1m sqm, 98% launched)

Central Park City, Wuxi

(GFA ~655k sqm, 19% launched)

Lake Botanica, Shenyang

(GFA ~1.1m sqm, 18% launched)

% Launch based on units launched against project’s estimated total units as at Sep 2013.

Parc Botanica, Chengdu

(GFA ~362m sqm, 19% launched)

La Botanica, Xi’an

(GFA ~2.9m sqm, 25% launched)


Former CapitaValueHomes

4 projects in 3 cities; ~6,300 units and GFA ~627k sqm

New Horizon & Wanxiang Plot II, Shanghai The Lakeside, Wuhan

The Rivervale, Guangzhou


Healthy Project Pipeline in China

Dolce Vita, Guangzhou The Paragon, Shanghai

The Loft, Chengdu

CapitaLand China consolidated: >65k units and GFA >7m sqm

The Metropolis, Kunshan

Beaufort, Beijing iPark, Shenzhen


Long-term Benefits from Consolidation

November 2013

CapitaLand China

Post-consolidation: • Residential to focus

on mass market, 1st time home buyers and up graders

• Capabilities to manage large scale projects

• Opportunities for economies of scale and bulk purchase


Residential53%

Investment Properties*

39%

Strategic

Investments

8%

Total Assets Allocation

November 2013

As at Sep 2013, CLC Total Assets is S$8.3b * 23% of Investment Properties relate to RCs’ strata assets

Well balanced Portfolio of Trading vs Long Term


• Datansha Island which comprises of

a land area of 3.55 km2 is located in

the western part of downtown

Guangzhou.

• The Project will be developed in

three main phases.

• CapitaLand has been assisting the

Liwan District Government in the

urban planning of the Project.

• The Master Plan was approved in

Oct 2012.

• CapitaLand has entered into a

framework cooperation agreement

with Guangzhou Liwan District

Government to jointly develop the

island project of approximately 3.55

km2 .

Datansha Island

Artist Impression of Datansha Island

Introduction

November 2013


Village Houses

School

School

Residences

F&B Belt

Village Houses

Warehouses

Village Commercial

Village Commercial

Residences Total Area of Island: 3.55 sq km

Metro Interchange

Metro Station

Datansha Island Site Conditions


Administrative Office Military Other Public Land

Commercial Public Greenery Warehouse

Culture Ecological Greenery Water Bodies

Sport Plaza Resettlement Residential

Hospital Car Park Resettlement Commercial

Educational Support Facilities

Residential Transport Facilities

Primary/Sec School Environment Facilities

Total Saleable Developments of approx. 1,971k sqm

Site Area

(‘000

sqm )

GFA

(‘000

sqm)

% of total

GFA

Saleable Residential (15 plots) 313 1,417 23%

Saleable Commercial (6 plots) 107 554 9%

Resettlement Homes 148 724 12%

Village Commercial 291 1,562 26%

Government Housing 65 296 5%

Public Facilities 306 175 3%

Military, Car Park, Plaza 61 42 1%

Greenery/ Water bodies 751 - 0%

Road, Network & Others 841 - 0%

Not for Development 672 1,271 21%

Total 3,554 6,041 100%

Datansha Island Master Plan

Raffles City and

Integrated

Developments

Raffles City Chengdu, China

Zhang Minjie,

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Continuous growth of quality assets

RCSRCB

RCC

RCN

RCSZ

RCH

RCCN

RCCQ

0

500

1000

1500

2000

2500

3000

2012 2015 2017 & beyond

CFA : 0.8m sqm

GFA: 0.6m sqm

Value: RMB 17b

CFA : 1.9m sqm

GFA: 1.4m sqm

Value: RMB 41b

CFA : 3.1m sqm

GFA: 2.2m sqm

Value: RMB 62b

Raffles City Portfolio Outlook

CFA ‘000 sm

Note: GFA includes basement retail area

2012 2015/2016 2018 & beyond

November 2013


Raffles City Portfolio

November 2013

Pipeline of Quality Assets with Stable Rental Income

8 Raffles City development with a construction floor area of 3.1m sqm

Raffles City Shanghai

Raffles City Beijing

Raffles City Chengdu

Raffles City Hangzhou

Raffles City Changning Raffles City Chongqing

Stabilized Newly Opened Under Construction

Raffles City Ningbo Raffles City Shenzhen

Year 2012 2015/2016 2018


CapitaLand’s Significant Stake in

Raffles City Projects

November 2013

Raffles City Projects

CL’s Total

Effective Stake

CL’s Stake Held

through CLC

Portfolio Value

(100% basis)

Completed Projects RMB ’Bil

Raffles City Shanghai 27.8% 22.3% 6.6

Raffles City Beijing 49.8% 40.0% 3.6

Raffles City Ningbo 49.8% 40.0% 2.4

Projects Under Development

Raffles City Chengdu 49.8% 40.0% 4.8

Raffles City Hangzhou 49.8% 40.0% 6.5

Raffles City Changning 36.8% 25.6% 9.8

Raffles City Shenzhen 73.0% 73.0% 7.1

Raffles City Chongqing 51.7% 31.3% 21.7

TOTAL: 62.5

S$ 12.9B

The above stake and values are as at 30 September 2013 * Amount includes strata assets of RMB 22.2 Bil (~S$ 4.6B) , approx 35% of portfolio value

*

*


Stabilised Asset – Raffles City Shanghai

November 2013

• Full committed occupancy for retail

mall and office tower

• Reconfiguration of larger anchor

tenant space into smaller units

• Annualised NPI yield on cost ~18 %

Raffles City Shanghai

New tenants and active Marcom activities


Stabilised Asset – Raffles City Beijing

November 2013

• Stable performance – Over 99% committed occupancy for retail

mall and office tower

– Above 90% occupancy for serviced

residences

• New brands & trade remix in 3Q 2013

• Annualised NPI yield on cost ~13 %


New tenants; brands include CK Performance, Fossil, Speedo


Performance Snapshot of Stabilised Assets Raffles City Shanghai


26.2

24.5 24.4

20.0

22.0

24.0

26.0

2010 2011 2012

Retail Footfall (mil)

1,014

1,093

1,127

950

1,050

1,150

2010 2011 2012

Tenant Sales (RMB mil)

369 383

402

300

350

400

450

2010 2011 2012

Total NPI (RMB mil)

94

166

186

50

100

150

200

2010 2011 2012

Total NPI (RMB mil)

6.2

7.8 8.2

5.0

6.0

7.0

8.0

9.0

2010 2011 2012

Retail Footfall (mil)

411

536

582

300

400

500

600

2010 2011 2012

Tenant Sales RMB'm

November 2013 CapitaLand Presentation


Newly Operational Assets

November 2013

- Strong committed occupancy of over 99% for retail mall

• Celebrated 1st year anniversary, with total footfall of 11 million

shoppers since opening

- T1 office block completed in late June 2013

- T2 office block achieved 57%* leasing commitment

- Opening of Ascott Raffles City Chengdu in 4Q 2013

Raffles City Chengdu

* As at 11 November 2013


Newly Operational Assets

November 2013

• Stable performance of retail mall

– Committed occupancy of 97%

– Opening of anchor tenant (including supermarket) has boosted

sales and shopper traffic

• Growing occupancy for office tower

– Committed occupancy of 79%*

– Mix of domestic as well as international tenants

Raffles City Ningbo

* As at 8 November 2013


Asset Under Development

November 2013


Site Area 40,335 sqm

Podium: Retail (B1-L16)

116,000 sqm

T1: Office (L8-L16) 27,567 sqm

T1: Svc Resi (L18-L31) 26,000 sqm

T1: SOHO (L33-L59) 33,000 sqm

T2: Office (L7-L24) 41,000 sqm

T2: Hotel (L26-L50) 45,000 sqm

T2: Apts (L52-L57) 10,000 sqm

Total GFA 283,567 sqm

Plot Ratio 7.03

Car Park 1,249 Lots

Total CFA 392,868 sqm



November 2013


69% structural completion

Raffles City Hangzhou Target Opening in 2015



November 2013

Raffles City Shenzhen


Apartments 72,729 sqm

Office 54,575 sqm

Retail 88,835 sqm

Hotel 21,095 sqm


Car Park 2,021Lots


Phase 1

Phase 3

Phase 2

Phase 1

Phase 2 (Raffles City)

Phase 3



November 2013

Raffles City Shenzhen

Construction progress on track

Phase 1: iPark Target handover of Block B in 4Q 2013

Phase 2: Raffles City Shenzhen

Raffles City Shenzhen Target Opening in 2016

Phase 3



November 2013

Raffles City Changning


Office T1 76,692 sqm



Retail 103,914 sqm

Other Public Facilities

155 sqm


Preservation Buildings

5,553 sqm

Other Facilities 12,623 sqm

Plot Ratio 3.9

Car Park 1,249 Lots




November 2013

Raffles City Changning Target Opening in 2016

Raffles City Changning

East Sector West Sector

Aerial view: 17% completion


Asset Under Development Raffles City Chongqing


Office 154,000 sqm

Hotel 69,000 sqm

Serviced Apartment 30,000 sqm

Residential 340,000 sqm

Retail 224,000 sqm


Transport Hub 35,800 sqm

Bus Terminal 17,500 sqm

Subway Station 5,100 sqm

Ferry Terminal 13,200 sqm

Plot Ratio 8.9

Car Park 3,400 Lots (B1,B2,B3)

Max Height 550m (AMSL)

Total CFA 1.1 million sqm

Footnote:

GFA – gross floor area; CFA – construction floor area

AMSL– above mean sea level



Raffles City Chongqing Target Opening in 2018

11% excavation work completed

Raffles City Chongqing

November 2013

2% shoring piles completed


Hanzhonglu Mixed-use Site

November 2013

3-line metro interchange currently under construction

Plot 95 (Office/Retail)

Plot 92 (Residential)

Concluding

Remarks

Raffles City Chengdu, China

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Concluding Remarks

November 2013

1. Improve long-term ROE

2. Deepen presence in 5 city clusters

3. Focus on execution to deliver shareholder value

4. Seek out new opportunities in residential and mixed developments


Strategy for Sustainable Growth

November 2013

40

Where to focus? How to build a sustainable and competitive

business?

Optimal

Mix Trading and

Investment Assets

50:50

Focus on

Key

cities

Exposure to Tier

1 and Tier 2/3

Cities

70:30

Target real demand

for residential

First time

home

buyers &

Up-graders

Continue to build and

hone Mixed-use

development capabilities

Enhance

operational

competence and

scale economies, as

more mixed use

projects are

completed

Improving Long Term ROE


Thank You

Appendices

Appendix 1 – Recent Land Transactions in Major Cities

Appendix 2 – China Macroeconomics Update


Appendix 1 - Recent Land

Transactions in Major Cities


Beijing Residential Land Transaction 3Q2013 Plot8(万科)：

RMB6,567psmppr ASP:10,000

Plot5(中铁)：RMB18,562psmppr

Ceiling:19,000

Plot4(恒大)：RMB15,453psmppr

Ceiling:22,000

Plot3(懋源)：RMB45,819psmppr ASP:40,000-50,000

Plot1(融创)：RMB73,100psmppr ASP:50,000-70,000

Plot 6(恒大)：RMB6,927psmppr

Ceiling:14,000

Plot9&10(融创)：RMB20,162psmppr ASP:34,000-37,000

Plot13(万年基业)：RMB19,463psmppr

ASP:25,000

Residential

Price-Capped

Note: ASP is short for surrounding residential average selling price

Plot11/12(北控/万通)：RMB7,049psmppr

ASP:11,000-20,000(apt) 15,000-30,000(villa)

Plot2(中粮)：RMB48,444psmppr ASP:50,000-60,000

Plot 7 (万科)：RMB19,347psmppr

Asp:20,000(apt) 25,000-30,000(villa)


Residential

Plot 8 (万科)：RMB21,416psmppr

ASP:26,000

Plot 3 (安徽高速地产)：RMB12,600psmppr

ASP:20,000

Plot 2 (中铁)：RMB10,753psmppr

ASP:17,000 Plot 4 (名城)：

RMB8,341psmppr ASP:17,000

Plot 5 (恒文投资)：RMB14,106psmppr

ASP:21,500

Plot 9 (阳光城)：RMB18,437psmppr

ASP:18,000

Plot 6 (卓涵)：RMB15,433psmppr

ASP:18,000

Plot 1 (泰禾)：RMB24,003psmppr

ASP:25,000

Plot 10 (保利)：RMB14,086psmppr

ASP:18,500

Plot 7 (嘉华)：RMB40,106psmppr

ASP:60,000

Shanghai Residential Land Transaction 3Q2013


Guangzhou Residential Land Transaction

Plot 1 (保利置业)：RMB 4,563psmppr ASP:7,000-9,000

Plot 3(保利置业) RMB 5,224 psmppr

ASP:8,500

Plot 2(绿地) RMB 6,597psmppr ASP:9,000-10,000

Plot 4 (越秀) RMB 9,761psmppr ASP:15,000-16,000


Chengdu Residential Land Transaction 3Q2013

November 2013

NO. Site Winner

1 金牛区土桥村重庆东原

2 青羊区万家湾重庆东原

3 成华区北湖7号中铁建

4 武侯区红牌楼台湾远雄

5 成华区长春4组成都交大工程

6 双流县华阳街道清河社区中铁八局

7 成华区崔家店路中粮

8 成华区青龙街道四川蓝润实业

9 成华区青龙街道四川蓝润实业

10 锦江区狮子山街道花果村中铁

11 高新区大源片区08地块建发

12 高新区大源片区10地块合能

13 高新区大源片区07地块建发

14 高新区大源片区09地块中铁建

15 青羊区清波村安徽海亮地产

16 高新区南部新区05号地块保利

17 高新区南部新区06号地块保利

18 锦江区花果村华润

3rd Ring Rd

4th Ring Rd

1st Ring Rd

2nd Ring Rd

RCC

LOFT

卓锦万黛

卓锦城

1

2

3

4

5

6

7

8 9

10

11 12

13

14

16 17

15

18

重庆东原 RMB6,120 psm ppr

ASP: 9,000

重庆东原 RMB6,790 psm ppr

ASP: 9,300

中铁建 RMB6,000 psm ppr

ASP: 8,400

台湾远雄 RMB10,000 psm ppr

ASP: 11,000

成都交大工程 RMB5,500 psm ppr

ASP: 9,600

中铁八局 RMB3,412 psm ppr

ASP: 8,500

中粮 RMB7,920 psm ppr

ASP: 13,700

四川蓝润 RMB5,350 psm ppr

ASP: 8,000

四川蓝润 RMB5,100 psm ppr

ASP: 8,000

中铁 RMB5,030 psm ppr

ASP: 11,500

华润 RMB7,870psm ppr

ASP: 10,000

建发 RMB8,410 psm ppr

ASP: 13,600

合能置业 RMB7,680 psm ppr

ASP: 7,700

保利 RMB6,820 psm ppr

ASP: 13,000

保利 RMB6,760psm ppr

ASP: 13,000

中铁建 RMB7,840 psm ppr

ASP: 20,000

建发 RMB7,530psm ppr

ASP: 7,700

海亮 RMB7,950 psm ppr

ASP:12,000


Chongqing Residential Land Transaction

Residential

Note: ASP stands for average selling price for surrounding residential

projects

Plot9(康田)：RMB3,763psmppr

ASP: 10,000

Plot3&4&5(朵力)：RMB3,763psmppr

ASP: 8,800

Plot6(钰鑫)：RMB4,818psmppr

ASP: 8,800

Plot10(柏明)：RMB4,863psmppr

ASP: 8,100

Plot1(华润)：RMB4,127psmppr

ASP: 8,800

Plot2(中房)：RMB4,399psmppr

ASP: 8,800

Plot7(美全)：RMB6,630psmppr

ASP: 10,000

Plot8(通用)：RMB4,685psmppr

ASP: 9,300


Appendix 2 – China

Macroeconomics Update


Beijing’s 7-Point Property Measures

November 2013

Source: Beijing Municipal Commission of Housing and Urban-Rural Development

On 23 October 2013, Beijing’s Municipal Commission of Housing and Urban-Rural Development announced seven strengthening measures (京七条) to stabilize home prices in Beijing

1. Emphasize constructing and managing end-user commodity housing 高度重视自住型商品住房建设和管理工作

2. Proper planning to ensure land supply 加强计划管理，确保土地供应

3. Unit size and pricing standards 合理确定套型面积和价格标准

4. Priorities given to family with Beijing hukou 明确销售对象

5. Speed up sales and registration management 加强销售和登记管理

6. Minimum holding period and appreciation tax 加强自住型商品住房的转让管理

7. Severe punishment for illegal and fraudulent purchasing behavior 严肃查处违法违规骗购行为

7-Point Measures 京七条 DETAILS:

• Owner occupied Price-capped housing 自住型商品住房项

• To be developed by private developers

•Target to supply no less than 20,000 units by

2013, and 50,000 in 2014

• Sizes will be controlled with flat sizes generally

below 90 sqm, and should not exceed 140 sqm

• ASP capped at 70% of prevailing market prices

for comparable properties with similar location

and quality

• Sold with priority to Beijing families or persons

above 25 yr old with no existing home ownership

• Minimum holding period of five years, and

capital gains tax of 30% after five years

ELIGIBILITY

Household Size (persons)

Household Annual Income RMB

Household Net Assets RMB

Below 3 Below RMB 88,000

Below RMB 570K

4 and above Below RMB 116,000

Below RMB 760K


Beijing’s 7-Point Property Measures: Minimal Impact Expected

Source: Soufun

23,777

7,799

5,701

0

5,000

10,000

15,000

20,000

25,000

30,000

Sep

-08

Jan

-09

May

-09

Sep

-09

Jan

-10

May

-10

Sep

-10

Jan

-11

May

-11

Sep

-11

Jan

-12

May

-12

Sep

-12

Jan

-13

May

-13

Sep

-13

ASP

(RM

B p

sm)

Beijing: ASP by housing type sold

Private Commodity Housing Price-Capped Housing Economic Housing

67.3% 86.4% 78.9% 64.4% 76.6% 77.2%

17.2%

8.7%17.3%

29.3%

18.1% 13.0%

15.5%4.9% 3.8% 6.2% 5.4%

9.8%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

2008 2009 2010 2011 2012 2013 (YTD Sep)

Beijing: % Breakdown units sold by housing type

Private Commodity Housing Price-Capped Housing Economic Housing

• In first nine months of 2013, Beijing sold approx 88,602 residential units, of which only 11,506 (13%) were price-capped homes: The pool of real demand for private housing remains substantial (77.2%)

• Current ASP gap between private commodity homes and price-capped housing very wide (>200%), and even if ASP is capped at 70% for this new price-capped program, unlikely to be any major shrinkage of private commodity housing pie, given the affordability of eligible price-capped buyers.

• Buyers of affordable housing are unlikely to be potential private commodity home buyers in the first place: Marginal buyers are low in numbers, and eligibility criteria prevents our target buyers from ‘buying down’.

• Given the pressure on profits due to price cap, there are concerns about the quality of such price-capped homes. We are of the view that CapitaLand China’s strong focus on product quality and delivery will make a great difference to potential buyers of mid-high end homes.


Disposable Income per Capita in China Growing at Positive Rates

November 2013 Source: National Bureau of Statistics

•China’s disposable income per capita has been increasing at double digit rates for the past few years and looks set to continue so

•Tier 1 cities enjoy significantly higher levels of disposable income per capita than overall China; Growth rates of disposable income per capita slightly lower than nation-wide, given the maturity of these Tier 1 economies, but still displaying steady growth

0%

2%

4%

6%

8%

10%

12%

14%

16%

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

45,000

2009 2010 2011 2012

Yo

Y %

Dis

po

sab

le I

nco

me

pe

r ca

pit

a R

MB

Disposable Income per Capita

China Tier 1 Average China YoY % (RHS) Tier 1 Average YoY % (RHS)


China Home Prices Continue to Increase

November 2013

-30%

-20%

-10%

0%

10%

20%

30%

40%

50%

60%

70%

May

-10

Jul-

10

Sep

-10

No

v-1

0

Jan

-11

Mar

-11

May

-11

Jul-

11

Sep

-11

No

v-1

1

Jan

-12

Mar

-12

May

-12

Jul-

12

Sep

-12

No

v-1

2

Jan

-13

Mar

-13

May

-13

Jul-

13

Sep

-13

China - YoY % Change in ASP and GFA Sold

ASP YoY % GFA Sold YoY %

-1

69

-80

-60

-40

-20

0

20

40

60

80

Sep

-11

De

c-1

1

Mar

-12

Jun

-12

Sep

-12

De

c-1

2

Mar

-13

Jun

-13

Sep

-13

Number of cities on YoY price Change

Increase

Decrease

Whole of China 70 Medium and Large Cities

•Nation-wide home prices and volume sold have generally

increased YoY in 2013 to date, despite the property cooling measures announced in March 2013

•On a Jan-Sep 2013 basis, China-wide average selling prices rose by approximately 9% this year

• In the latest September 2013 data release by the NBS, 69 cities out of 70 experienced YoY increases in home prices

•Tier 1 cities such as Beijing, Shanghai, Guangzhou and Shenzhen reported more than 20% YoY gain in prices

* Pre-sales

Source: Soufun & National Bureau of Statistics


Urbanisation Drives Real Demand for Homes

November 2013

Source: National Bureau of Statistics & United Nations World Urbanization Prospects 2012

26.4%

35.9%

49.2%

52.6%55.6%

61.0%

65.4%68.7%

0

10

20

30

40

50

60

70

80

100

200

300

400

500

600

700

800

900

1000

1100

1980 1985 1990 1995 2000 2005 2010 2011 2012 2015E 2020E 2025E 2030E

Urb

aniz

atio

n R

ate

(%

)

Po

pu

lati

on

(m

illio

n)

Urban population (LHS) Urbanization rate % (RHS)

Documents

Presentation by Jason Leow CEO, CapitaLand China · 11/12/2013 · Presentation by Jason Leow CEO, CapitaLand China 12 November 2013 . 2 ... including employee wages, benefits and