Property developer CapitaLand says its wholly-owned subsidiary, CL Pinnacle, has acquired a 40 percent stake in Temasek Holdings' unit Surbana for S$360 million. CapitaLand says the purchase will complement and accelerate the growth of its value housing business initiative by leveraging on Surbana's expertise, particularly in large scale mass market residential developments. Last year, CapitaLand...
Developer News
A condominium land site located on Bendemeer Road/Whampoa East has been awarded to United Engineers Developments, which submitted the top bid of S$543 million or S$8,332.87 per sqm (psm) based on gross floor area (GFA) The 99-year leasehold land parcel, sized at 18,618 sqm or 200,404 sq ft, has a maximum permissible GFA of 65,163.9 sqm or 701,424 sq ft. The site, which went up for tender on Feb 23, can...
Malaysia’s leading property developer S P Setia Bhd Group is planning to enter the Singapore property market this year, said Liew Kee Sin, Chief Executive Officer of SP Setia. “Singapore is a good market to enter but we will do it step by step,” said Mr. Liew at the Invest Malaysia 2011 event. For a start, S P Setia plans to develop condominium projects in the country and in addition to cross...
A condominium land site located on Bendemeer Road/Whampoa East has been awarded to United Engineers Developments, which submitted the top bid of S$543 million or S$8,332.87 per sqm (psm) based on gross floor area (GFA) The 99-year leasehold land parcel, sized at 18,618 sqm or 200,404 sq ft, has a maximum permissible GFA of 65,163.9 sqm or 701,424 sq ft. The site, which went up for tender on Feb 23, can...
Chief Executive Officer of CapitaLand Liew Mun Leong received a total of S$6.76 million in remuneration last year, up from S$5.795 million in the previous year. His bonus for the year accounts for more than half of his pay packet, coming in at S$3.6 million. Mr Liew's salary for the year comes in at S$1.299 million, which includes the annual wage supplement and employer's CPF contributions. The...
A day after the Hong Leong Group put in a bid for a residential site in a consortium which included a Japanese partner, CapitaLand said yesterday that it will partner Mitsubishi Estate Asia (MEA), a wholly-owned subsidiary of Mitsubishi Estate (MEC), to jointly develop a 600-unit condominium in Bishan Central. With a track record of developing quality residential projects in Japan, MEC is one of Japan's...
Property developer Keppel Land has been awarded a residential site tender to build up to 630 dwelling units in Sengkang. These units range between 450 square feet and 2,200 square feet in one-to-four-bedroom configurations, as well as penthouses. Keppel Land had submitted the highest bid for the Condominium housing development at about S$286.8 million. The developer said in a statement today that the...
Property developer Yanlord Land has appointed HSBC, JP Morgan and RBS as joint lead managers and bookrunners for its proposed US dollar bond offering. In a statement to the SGX on Wednesday, Yanlord said the issue was expected to be rated "Ba2" by ratings agency Moody's and "BB" by Standard & Poor's. The Singapore-listed company said the bonds would be guaranteed by certain subsidiaries of the...
Mainboard-listed Overseas Union Enterprise (OUE) has turned a full-year net profit of S$777.2 million. This is a reversal from a net loss of S$93.4 million in 2009. The firm said the better performance is on the back of a 57 per cent increase in its full-year revenue to S$215.6 million. It added that this is driven by higher contributions from its hospitality and retail divisions, while rental income...
A 99-year leasehold land site for condominium housing in Bishan attracted a record 19 bids at the close of its tender by the Housing and Development Board yesterday - the highest number of bids in 12 years. This is one bid higher than the Simei Street 3 tender in May last year. That site has since been developed into the My Manhattan by CEL Development. The highest bid for the Bishan site came from...