CapitaLand boosts recovery in China with digitalisation strategy via its CapitaStar app. YahooFinance
Lucas Loh, president of CapitaLand Group , touring a Star Live Studio that is used to conduct livestream sales at Hongkou Plaza in Shanghai SINGAPORE - In the light of easing lockdown measures across the world, developer CapitaLand is taking further steps to digitalise its business. It attributes the recovery of CapitaLand’s residential and retail businesses in China to online efforts aimed at engaging consumers during the nationwide lockdown, primarily through the CapitaStar platform.
In mid-March, CapitaLand introduced a “Homes” feature on CapitaStar’s WeChat, through which house hunters can book viewing appointments. In less than two months, there have been 2,700 apartment viewing appointments booked. From January to May, the group has managed to move more than 1,400 residential units, worth about RMB4 billion . Approximately half of them were transacted in May. Notable launches include Parc Botanica in Chengdu and La Botanica township in Xi’an.
Currently, 1,100 over retailers are onboard CapitaStar’s ecommerce platform. CapitaStar livestream sales have attracted more than 400,000 viewers in total. A joint livestream held at the end of May in participation with 10 CapitaLand malls generated over RMB1 million in tenant sales within eight hours. Merchandise can be delivered or picked up from physical stores.
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