Beijing Capital Land dominates mainland outlet sector
Beijing Capital Land says it is now the largest operator of outlet projects in Mainland China, with 13 malls now operating nationwide.
The Hong Kong-listed company, which has diverse assets across a variety of property and other sectors, says its subsidiary Capital Juda acquired five outlet projects in Xi’an, Zhengzhou, Jinan, Hefei and Chongqing on the open market. Beijing Capital also rolled its Fangshan, Huzhou and Kunshan Outlet projects into Capital Juda.
Those centres recorded “steady growth” and generated annual turnover of nearly RMB2.4 billion last year, an increase of 17 per cent year-over-year. Annual foot traffic reached
19 million, an increase of 22 per cent on 2015.
Beijing Capital says it plans to continue expanding its network to maintain China’s largest outlet operation platform.
“The group believes it can create competitive advantages and scale by rapidly expanding in target cities with a diversified strategy that combines construction, mergers and acquisitions and joint ventures,” the company said in a results announcement this week.
“Meanwhile, the group’s integrated model that features an expanding collection of outlets should provide brands with a variety of channels to connect with consumers and ultimately help all parties achieve great success.”
The malls carry branding including Beijing Fangshan Capital Outlets (pictured), Hainan Wanning Capital Outlets and Jiangsu Kunshan Capital Outlets.
Beijing Capital land’s total revenues last year reached RMB20.35 billion, an increase of 27 per cent year-on-year. Operating profit increased 2 per cent to RMB3.83 billion.