CapitaLand Ltd intends to build integrated developments internationally due to higher returns. President and chief executive officer Liew Mun Leong said the company plans to do this in Malaysia via its 21 per cent unit, United Malayan Land Bhd, which has ample land.

According to him, not many countries have built integrated developments on a large scale.

The Singapore-based company is currently developing six similar projects comprising hotels, serviced apartments, and retail and commercial buildings in Singapore, China and Bahrain under the “Raffles City” brand. These projects are worth a combined RM17.1 billion.

Liew revealed there are plans to build another Raffles City in gateway cities such as Mumbai and Moscow. He did not rule out Malaysia. He added that demand will be good if there is a suitable location as well as mass traffic flow of people, as it involves huge investments.

The company hopes to meet its internal net profit and revenue target for its current financial year ending December 31, 2008 via new product launches and sales from existing developments. Last year, it recorded a net profit of RM6.72 billion on the back of RM9.12 billion revenue, mainly due to capital gain.

Liew said while the company remains optimistic for 2008, it will be a tough year with the global economic slowdown. He added that its diversification into other markets has helped alleviate the impacts of rising cost, inflation and a gloomy economy.