Singapore's CapitaLand is buying the owner of a clutch of real estate investment trusts from state investor Temasek in a deal valued at S$11 billion that the developer said will create the largest diversified property group in Asia. CapitaLand will buy the holding companies of the business of the Ascendas-Singbridge Group, which manages Ascendas Real Estate Investment Trust, Ascendas India Trust and...
GuocoLand Limited today announced the groundbreaking of Guoco Midtown, unveiling the name of the prime site that is set to rejuvenate the Beach Road district. It will provide a new epicentre for this side of Singapore’s Central Business District (CBD). Guoco Midtown is expected to be completed by the first half of 2022. Nestled within the City Hall office micromarket, Guoco Midtown will be the final...
The Government has put in place new anti-money laundering and terrorism financing requirements for property developers that will require them to perform due diligence checks on their buyers and flag suspicious activity. The new rules come after Parliament passed the Developers (Anti-Money Laundering and Terrorism Financing) Bill on Tuesday (Nov 20). The Bill amends both the Housing Developers...
City Developments Limited (CDL) said on Thursday (Nov 8) that its net profit rose 10.4 per cent in the third quarter and projected confidence in the market going forward, even as it cautioned against macroeconomic uncertainties and persistent headwinds for the Singapore residential property market. Net profit for the three months ended September rose to S$161.8 million from S$146.6 million in the same...
CapitaLand today initiated its ‘office of the future’ strategy aimed at engendering a culture of innovation, promoting talent attraction and retention and optimising cost efficiency for tenants of its office properties. While coworking spaces currently aim to fulfil these objectives, they are typically standalone spaces targeted at a specific pool of tenants. CapitaLand’s ‘office of the future’...
THE times they are a changin' - even for high-end home buyers. And luxe developer SC Global is rolling with it. The Simon Cheong vehicle, known for building "Mansions in the Sky" at The Marq, is now going small with its new collection, aptly named Petit Collectibles. The approximately 55-unit Petit Jervois in River Valley, the first project under this new brand, will be mostly one and two-bedders...
The collaboration marks Keppel Land China’s first foray into Nanjing and further expansion in the Yangtze River Delta region. Keppel Land China Limited (Keppel Land China) has formed a joint venture with Gemdale (Group) Co., Ltd. (Gemdale Corporation) to jointly develop an 8.8-ha prime residential site in Nanjing, China. Keppel Land China has entered into a share purchase agreement (SPA) with...
Property giant CapitaLand has snapped up 16 apartment blocks in four American metropolitan areas for US$835 million (S$1.14 billion), it announced yesterday. The firm said it made the investment - its first in this sector of the property market - to capitalise on the growing demand for long-term rental housing. The blocks, which comprise 3,787 units in suburbs of Seattle, Portland, Greater Los...
City Developments Limited (CDL) announced on Friday morning that it has acquired a prime freehold Grade A commercial building in London for £183 million (S$328 million). The project, Aldgate House, is located in the district of Aldgate, right beside Aldgate Underground Station and with six other stations within a five-minute walk. CDL said the acquisition was undertaken "as part of its focus on...
CapitaLand was recognised as the best real estate developer in Singapore for the second consecutive year according to the Euromoney Real Estate Survey 2018. The survey, now in its 14th year, is a ranking of leading firms involved in the real estate sector worldwide. Bagging a total of four awards, CapitaLand was also voted Singapore's top real estate developer in the retail and mixed sector...
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