China's property sector has long inspired fears that it's a bubble waiting to pop, but Singapore-based developer CapitaLand is sticking with its bets there.
Singapore-listed CapitaLand, which has developments across Asia, has kept its focus on just 10 cities in China: Shanghai and Beijing make up almost half of the nearly 30-40 billion Singapore dollars ($21-28 billion) of total assets that the developer has in the country, CapitaLand's chief financial officer Arthur Lang told CNBC Tuesday.
"Anyone who has been in these two cities recently will wonder whether there is actually any slowdown at all. And if you throw in the other two top tier-one cities, Guangzhou and Shenzhen, we're about two-thirds to 70 percent situated in these four cities," he noted, adding that only around 4 percent of the company's China assets are in tier-three cities.
"Short term, we are cautious like everyone else is because of all the volatility we're seeing in China," Lang said, noting nearly half of the company's assets are on the mainland. "But in the long term, we're still very confident and very optimistic."