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Singapore, 11 December 2025 - CapitaLand Investment Limited (CLI), a leading global real asset manager, has closed its second onshore sub-fund, China Retail RMB Fund I (CRF I), under the CLI RMB Master Fund.  In addition to the equity commitment from the Master Fund, CLI has secured several onshore institutional investors, bringing the total fund size to RMB1 billion (S$183 million).  CRF I is expected to add RMB1.48 billion (S$271 million) to CLI’s funds under management (FUM) when fully deployed.  With this close, CLI has raised nearly RMB55 billion (S$10 billion) of domestic capital across nine onshore funds since 2021, reflecting the depth of investor demand and CLI’s proven ability to scale through trusted partnerships and disciplined execution.

CLI will recapitalise CapitaMall Xinduxin by realising value through its sale as the seed asset to CRF I. Located in Qingdao’s Shibei District, CapitaMall Xinduxin is a prime retail asset with a gross floor area of 141,000 square metres and a committed occupancy of approximately 99.6%. The shopping mall is directly connected to Qingdao’s subway line 3 and is the highest-quality, best-operated, and top-positioned shopping mall in the district. CLI will continue to manage the property and earn recurring fee income.

CLI’s first sub-fund under the Master Fund was the China Business Park RMB Fund IV, which closed in September 2025 with a total FUM of RMB1.74 billion (S$318 million) and Dalian Ascendas IT Park as its seed asset. CLI has a robust pipeline of retail, business park, logistics and rental housing assets across Tier one and top Tier two cities to support future sub-funds of the RMB Master Fund.

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^{Based on exchange rate of RMB1 to S$0.18295, unless otherwise stated.}