Our “One CapitaLand” ecosystem gives us access to CapitaLand’s development capabilities, creating a mutually beneficial environment for partnership and growth. CLI and CapitaLand will maintain reciprocal rights of first refusal (“ROFR”) regarding mutual opportunities. Both CapitaLand’s development business and CLI’s business see this as a sustainable competitive edge.
The ROFR gives CLI a right of first refusal under certain terms and conditions to acquire Relevant Assets that CapitaLand or any of its subsidiaries wishes to dispose of. CLI may exercise the right to acquire the Relevant Assets (or, as the case may be, the interests in the Relevant Assets) for its own portfolio of pipeline assets, or CLI may exercise it in favour of any Relevant CLI Entity. “Relevant Assets” refers to any operational, income-producing properties for the following non-exhaustive uses: residential, retail, office, business park, industrial, logistics, data centre and mixed use properties, and lodging related (including multifamily, student accommodation, hotels and serviced apartments, amongst others) located anywhere in the world, and where the context so admits, shall include the shares and equity interests of any single purpose company or entity established to hold the Relevant Asset