There are “very encouraging” signs across the real estate market in China, major Asian developer CapitaLand said last week.
“China remains a bright spark,” Andrew Lim, group chief financial officer of CapitaLand Group, told CNBC’s “Squawk Box Asia” on Friday.
His comments were made following the company’s announcement that profits for the first half of 2020 fell 89% to 96.6 million Singapore dollars ($70.5 million), from 875.4 million Singapore dollars a year ago.
Revenue was 4.9% lower, “mainly due to rental rebates” and lower contributions from malls and residential projects, the press release said. CapitaLand provided rental relief to tenants that were hit hard by partial lockdowns due…