Developer News

Green developers get $20m fund

Fund will cushion cost of integrating solar panels into new Green Mark buildings DEVELOPERS of new and green buildings can now tap into a $20 million fund set up by the Government - a decision that is certain to sit well all-round as oil prices continue to surge. The fund will partly offset the cost of integrating solar panels into new buildings “which attain a certain level of Green Mark standard”,...

Singapore Land posts 1,252% rise in full-year net profit

Fair value gains as a result of a revaluation of properties has boosted the full-year earnings of Singapore Land by 1,252 percent. It posted net earnings of nearly S$1.4 billion, compared with S$121 million in the year-ago period. Revenue rose 34 percent to S$271 million. This was due to the contribution from its Pan Pacific Singapore hotel operations and higher rental income. Singapore Land expects...

Hong Leong Asia posts 56% jump in full-year profit on strong China operations

Hong Leong Asia's foray into China is paying off for the company. Its China operations and building materials unit both helped to boost its full-year net profit to S$95.4 million, up 56 percent on year. Revenue rose 30 percent to S$3.2 billion. Hong Long's share of profit from associates increased to S$25.4 million in 2007, a turnaround from the loss in 2006 of S$500,000. Most of the contribution come...

Banyan Tree rakes in 142% jump in FY net profit to S$102m

Luxury resorts and spa operator Banyan Tree is reaping more rewards from its overseas expansion. Banyan Tree Bintan (file picture) Its net profit for the full year jumped 142 percent to $102 million. This was achieved on the back of a 26 percent rise in revenue to $422 million. The bottomline was driven by Banyan Tree's hotel operations and property sales segments, coupled with a one-off negative...

Developer Allgreen Properties reports full-year net profit of S$493m

Developer Allgreen Properties says its full year net profit jumped more than six fold to S$493 million. Its earnings were boosted mainly by fair value gains on its investment properties. Excluding the fair value gains, net profit would have nearly doubled on year to S$145 million. Revenue rose 19 percent to S$569 million. The company benefitted from higher sales of properties as a result of the buoyant...

City Dev more than doubles FY net profit to S$725m

Property developer City Developments (CDL) has booked record full year earnings, thanks to strong home sales and hotel revenues. Net profit for 2007 more than doubled on-year to S$725 million, beating market expectations. Revenue rose by 22 percent to S$3.1 billion. CDL says it will not rush into new residential launches in the coming months but will closely monitor market conditions. It has been a...

CapitaLand says Vietnam market is 2nd most important after Singapore

Property developer CapitaLand said it views the Vietnam market as being the second most important market for itself after Singapore. President and CEO Liew Mun Leong has likened the growth potential of Vietnam to Chinese cities like Shanghai and Guangzhou. To help the company expand in Vietnam, CapitaLand has formed a strategic partnership with another Vietnamese developer. Urbanisation in Vietnam is...

Ho Bee’s full-year profit jumps 176% to S$272m

A robust property market and a strong economy have helped developer Ho Bee to report record full-year earnings. Net profit jumped 176 percent on year to S$272 million. This was achieved on the back of record revenues of S$596 million, up 52 percent on year. Ho Bee's development properties reported higher sales due to the progressive recognition of income from its residential projects, including those at...

Koh Brothers posts near 10-fold jump in FY net profit

Developer Koh Brothers has posted a near 10-fold jump in full-year net profit - rising 877 percent to S$39.7 million. The sharp spike in the bottomline was due mainly to fair value gains on investment properties. There was also an exceptional gain of S$5.6 million after the company sold three units in Shantou, China. Sales rose 10 percent to S$285.5 million and Koh Brothers remains bullish about its...

Keppel Land unveils plans for development in Ho Chi Minh City

Keppel Land, one of the largest property developers in Vietnam, has unveiled concept plans for Phase Two of its Saigon Centre in Ho Chi Minh City. This was presented to President S R Nathan and Vietnam's Deputy Prime Minister Hoang Trung Hai in Hanoi on Tuesday. In the new phase, Keppel Land is going for an 88-storey mixed development which will house residential, retail and office space, and will also...

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