CapitaRetail :: China Trust

The current portfolio of eight shopping malls are located in five of China’s cities. The malls are Xizhimen Mall, Wangjing Mall, Jiulong Mall and Anzhen Mall in Beijing, Qibao Mall in Shanghai, Zhengzhou Mall in Zhengzhou, Henan Province, Saihan Mall in Huhhot, Inner Mongolia, and Xinwu Mall in Wuhu, Anhui Province.

All the malls in the portfolio are positioned as one-stop family-oriented shopping, dining and entertainment destinations for the sizeable population catchment areas in which they are located, and are accessible via major transportation routes or access points. A significant portion of the properties’ tenancies consists of major international and domestic retailers such as Wal- Mart, Carrefour and the Beijing Hualian Group (BHG) under master leases or long-term leases, which provide CRCT unitholders (Unitholders) with stable and sustainable returns. The anchor tenants are complemented by popular specialty brands such as Vero Moda, Watsons, KFC, Pizza Hut, BreadTalk, ZARA, Sephora, etc.

The multi-sourced portfolio which comprises greenfield developments, acquisitions from third party and retail operators who are the strategic partners of CapitaLand and a master-leased asset from the landowner, demonstrates the capability of our comprehensive retail real estate business platform which provides access to the full spectrum of retail opportunities in various tiered cities across China.

Property Address	Xizhimen Mall No. 1 Xizhimenwai Avenue, Xicheng District, Beijing 北京市西城区西直门外大街1号	Wangjing Mall No. 33 Guangshun North Street, Blk 213 & 215, Changyang District, Beijing 北京市朝阳区广顺北大街33号院 213,215号	Jiulong Mall No. 31 Guangqu Road, Chaoyang District, Beijing 北京市朝阳区广渠路31号	Anzhen Mall Section 5 No. 4 of Anzhen Xi Li, Chaoyang District, Beijing 北京市朝阳区安贞西里五区 4号楼
GFA (sq m) (as at 31 December 2009)	83,075	83,406	49,526	43,442
GRA (sq m) (as at 31 December 2009)	83,075	67,648	49,526	43,442
Number of Leases (as at 31 December 2009)	197	165	6	1
Land Use Right Expiry	23 August 2044 23 August 2054	15 May 2043 15 May 2053	10 July 2042	7 October 2034 5 March 2042 3 June 2042
Market Valuation² (RMB Million) (as at 31 December 2009)	1,908.0	1,239.0	449.0	828.0
Purchase Price (RMB Million)	1,863.5	1,102.0	414.0	772.0
Acquisition Date	Phase 1- 5 February 2008 Phase 2- 29 September 2008	1 December 2006	1 December 2006	8 November 2006
Committed Occupancy Rate (%) (as at 31 December 2009)	94.8	98.1	100.0	100.0
Shopper Traffic³(Million) (for 2009)	14.1	7.9	-	-
Major Tenants	Vero Moda/Only/ Jack & Jones BHG Sephora 麻辣烫/金汤玉线/ “川成元” 麻辣香锅/ 姑姑宴 Icool	BHG Vero Moda Classic/ Selected/ Only/ Jack & Jones PartyLand KTV IT ZARA	Carrefour B&Q	BHG
Gross Revenue (RMB Million) (for 2009)	156.4	131.1	40.3	77.6
NPI (RMB Million) (for 2009)	102.5	91.9	32.1	64.0

Property Address	Qibao Mall No. 3655 Qi Xin Road, Minhang District, Shanghai 上海市闵行区七莘路3655号	Zhengzhou Mall No. 3 Minzhu Road, Erqi District, Zhengzhou, Henan Province 河南省郑州市二七区民主路3号	Saihan Mall No. 32 Ordos Street, Saihan District, Huhhot, Inner Mongolia Autonomous Region 内蒙古自治区呼和浩特市赛罕区鄂尔多斯大街32号	Xinwu Mall No. 79 Zhongshan North Road, Xinwu District, Wuhu, Anhui Province 安徽省芜湖市新芜区中山北路 79号
GFA (sq m) (as at 31 December 2009)	83,986	92,356	41,938	59,624
GRA (sq m) (as at 31 December 2009)	72,729	92,356	41,938	45,634
Number of Leases (as at 31 December 2009)	132	1	102	148
Land Use Right Expiry	10 March 2043¹	31 May 2042	11 March 2041 20 March 2041	29 May 2044
Market Valuation² (RMB Million) (as at 31 December 2009)	328.0	511.0	288.0	141.0
Purchase Price (RMB Million)	264.0	454.0	315.0	130.0
Acquisition Date	8 November 2006	1 December 2006	1 December 2006	8 November 2006
Committed Occupancy Rate (%) (as at 31 December 2009)	82.1	100.0	92.6	92.3
Shopper Traffic³(Million) (for 2009)	9.1	-	5.9	9.8
Major Tenants	Gome Carrefour Powerhouse Gym Giordano/ Giordano Junior 新膳海	BHG	BHG KFC Nike Jack & Jones Yoshinoya	Wal-Mart Tango KTV 雅伊漫/海贝来来永和豆浆 KFC
Gross Revenue (RMB Million) (for 2009)	70.3	47.6	17.6	23.3
NPI (RMB Million) (for 2009)	22.3	38.7	1.2	8.6

Notes:

(1) Qibao Mall is indirectly held by CRCT under a master lease with Shanghai Jin Qiu (Group) Co., Ltd, the legal owner of Qibao Mall. The master lease expires in January 2024 with the right to renew for a further term of 19 years and two months.

(2) Independent valuations of Wangjing Mall, Jiulong Mall, Anzhen Mall, Qibao Mall, Zhengzhou Mall, Saihan Mall and Xinwu Mall were undertaken by CB Richard Ellis and independent valuation of Xizhimen Mall was conducted by Knight Frank.

(3) Jiulong Mall, Anzhen Mall and Zhengzhou Mall do not have traffic counters.