June
CapitaLand’s Thai JV, T.C.C. Capital Land, acquired its second prime residential site in Bangkok for Baht 692 million (S$28.8 million). The 123,300-square metre freehold residential site will have 79 luxurious landed homes built on it.

AIG Tower in Hong Kong was 80 per cent pre-leased prior to receiving its occupation permit.

CapitaLand divested Huteng Investment (Shanghai) Pte Ltd, which owns Pidemco Tower in Shanghai, for US$107.6 million (S$176.4 million).

CapitaLand organised a seven-week roving photo exhibition of the CapitaLand Hope Schools at its retail malls and commercial properties during the school holidays, to raise awareness of the plight of impoverished children in China’s rural areas.

July
CapitaLand signed a co-operative agreement with SZITIC to invest in and manage 15 more retail malls in China, anchored by Wal-Mart, bringing its total portfolio in China to 21 malls with an asset size of more than S$1 billion.

CapitaLand divested its stakes in Bugis Junction (retail component) and Bugis Junction Tower (office component). Bugis Junction was divested to CMT via an asset sale for S$580.8 million, while Bugis Junction Tower was divested to Keppel Land Properties Pte Ltd via a share sale based on an asset value of S$140.0 million.

Raffles Holdings entered into a transaction with Colony Capital, LLC for the sale of its entire hotel business, which included 41 hotels (14 owned and 27 managed) for an enterprise value of S$1.72 billion. The transaction was completed on 30 September 2005.

August
CapitaLand brought OKS Capital, a Singapore vehicle backed by Middle Eastern investment interests, on board as a strategic investor for its RiverEdge development in Singapore.