It is also a different stage of the property cycle. In a property development cycle, it starts with aqcusition of land, developing of the land, generating income from the property, and maintainence of the property.
For Capitaland, it deals with property development. SO it is at the very front of the property development cycle. It's main business is in the aquistion and development. For CMT, like what others have said, is a REIT. It's main business is really in the generation of income (through rents) and the maintenance of the properties (enhance of their properties etc). Both have their cycles.
Capitaland ot Capitamall? It depends on which part of the property development cycle you fancy. Also, do consider about the potential yield of the stocks and the dividend yield. Dividends Warrior would have more insghts on the front of dividend yield. =)