Cambridge, England - FRESH details have emerged on CapitaLand's plans to list its malls unit, CapitaLand Retail, which were first made public earlier this month.

South-east Asia's biggest developer will list a stake of 25-30 per cent in its malls unit, to be renamed CapitaMalls Asia, by the year-end, chief executive Liew Mun Leong said yesterday.

Mr Liew, speaking on the sidelines of a conference, said that the listing would follow an extraordinary general meeting (EGM) of CapitaLand shareholders at the end of this month, who need to approve the flotation.

When CapitaLand first announced its plans for the listing, sources said that it could raise at least US$1 billion.

Rising consumer spending and increased presence of malls in countries such as China should mean 'shopping malls will be the darling of real estate investing' in Asia, Mr Liew said.

He said that the EGM would be followed by an investor roadshow.