Property developer Ascendas Group has said it is looking at listing a new fund, but is still weighing all options before it makes a decision. This came in response to a report by South China Morning Post about its plans to list a yuan-denominated real estate investment trust (REIT) of its China property assets in Hong Kong. The move is said to be in line with the growing interest in renminbi products and...
Developer News
Mapletree Investments, a property arm of Singapore investment company Temasek Holdings, is in discussions to buy the Festival Walk retail complex in Hong Kong's Kowloon Tong district, the Sing Tao Daily reported yesterday, citing an unnamed person familiar with the matter. Sing Tao said Hong Kong conglomerate Swire Pacific may divest Festival Walk for HK$22 billion (S$3.5 billion). If successful, the sale...
Singapore investment firm Temasek Holdings and Malaysian sovereign wealth fund Khazanah Nasional will jointly develop prime land parcels in both countries into projects worth about S$12.2 billion. The two investment firms have established two subsidiaries - M+S Pte Ltd and Pulau Indah Ventures Sdn Bhd - for the purpose. Temasek has a 40 percent stake in M+S while Khazanah owns the remaining 60 percent...
CapitaLand yesterday said it had appointed Morgan Stanley co-head of South-east Asian investment banking Arthur Lang as its new chief financial officer. Mr Lang will commence his new role by mid-September and will replace current CFO Oliver Lim, who has been appointed head of strategic corporate development with the property group. "We are always rotating our top business talents to different business...
Hong Kong developer Cheung Kong unveiled on Wednesday its latest residential property project in Singapore. The development, Thomson Grand, will be located in Upper Thomson. It will comprise a total of 361 units. Thomson Grand is slated for completion in November 2018. Its launch is expected early July. The condominium occupies a land area of about 225,000 square feet. Of the 361 units, 339 are...
The Urban Redevelopment Authority (URA) has awarded the tender for a residential site at Flora Drive to Frasers Centrepoint. The developer submitted the highest bid of nearly S$131.4 million, which translates to about S$3,499 per square metre. Potentially yielding an estimated 380 housing units, the land parcel is located in a Pasir Ris residential estate. The plot has a site area of about 26,800 square...
Mainboard-listed CapitaLand has sold its entire 20 per cent interest in the Macao Studio City project for a cash consideration of HK$658.7 million (S$104.5 million). CapitaLand's stake in the casino project is through its one-third ownership of East Asia Satellite Television. It is selling its stake to its joint venture partner, eSun Holdings, which owns the other two-thirds of East Asia Satellite...
Property developers may be less aggressive in their bids for government land in the second half of this year. This is according to analysts, who have said that most developers will be more selective in their choices as well. Developers may only have eyes for sites which are the most profitable in the government land sales programme, such as those at Alexandra Road and Bishan Street 14, which analysts said...
The Urban Redevelopment Authority (URA) has awarded the tender for a residential site at Woodlands Avenue 2/Rosewood Drive to joint bidders Fragrance Group and Aspial Corporation. The consortium submitted the highest bid of about S$151.5 million, which translates to around S$3,952 per square metre. The plot has a site area of 27,380 square metres, and a maximum gross floor area of about 38,330 square...
Developer BS Capital is launching a new "shoebox" residential project off Balestier. Called The Interweave, the 169-unit freehold development located at Kim Keat Road sits on a 32,500 sq ft site and houses one 21-storey block of apartments. It offers 110 shoebox units between 344 sq ft and 431 sq ft, 57 two-bedrooms units at between 689 sq ft and 764 sq ft, and two three-bedroom units at up to 1,141 sq...