Developer News

CapitaLand buys prime residential site in Ho Chi Minh City

CapitaLand has bought a 60,732 square metre prime residential site in Ho Chi Minh City, Vietnam, for 1.38 trillion Vietnamese dong (S$81.4 million) in cash, the property developer said on Thursday (Aug 30) during the midday trading break. Under the deal, CapitaLand's wholly owned subsidiaries CVH Sparrow, CLV Investment 2 and CLV Investment have acquired 100 per cent of the charter capital of BCLand...

Developer sentiment takes a hard hit after new cooling measures: survey

Developer sentiment has dampened significantly following the government’s announcement of new cooling measures, according to a survey conducted by the National University of Singapore (NUS) and the Real Estate Developers’ Association of Singapore (REDAS). Outlook for the prime residential and suburban residential sectors were the hardest hit; office, business park/hi-tech space and hotel/serviced...

Top Global purchasing property at Lorong Mambong for S$13m

TOP Global's wholly-owned subsidiary Holland V Investment Holdings has exercised an option with Bhajis Holdings and Lawson Investment Holdings to purchase a property in Singapore for S$13 million. The property, along Lorong Mambong, has a total area of about 2,860 square feet with a freehold tenure. A 5 per cent deposit of S$650,000 has been paid and the balance 95 per cent will be paid when the...

CapitaLand-CDL tie-up win Sengkang Central bid

A CapitaLand and City Developments Ltd (CDL) tie-up has clinched a commercial and residential site in Sengkang Central. Their winning bid of S$777.78 million works out to S$923.59 per square foot per plot ratio (psf ppr) for the 99-year leasehold site next to Buangkok MRT Station. In a joint release on Thursday evening, CapitaLand and CDL said their joint venture will transform the 3.7-hectare site –...

CapitaLand wins bid to acquire 2 prime residential sites in Guangzhou

CapitaLand has won its bid to acquire two prime residential sites in Guangzhou, China, for 2.05 billion yuan (S$409 million). Announced yesterday, the two sites in the Zengcheng district occupy 150,000 sq m of land, and could allow the developer to build up to 1,300 homes by 2021 aimed at first-time home buyers and upgraders, CapitaLand said. Zengcheng, where prominent companies such as Foxconn and...

Developers cut prices after latest property curbs

In a bid to attract more buyers, some property developers are lowering the prices of their residential projects by about 5 to 10 per cent after the latest round of cooling measures took effect on July 6. Daintree Residence, a 99-year leasehold condominium which opened for sale on July 28, was selling at an average price of S$1,710 psf, which is 5 per cent lower than the earlier announced price of...

Ho Bee Land Q2 net profit almost doubles to S$71.5m

Ho Bee Land has posted net profit of S$71.5 million for the second quarter ended June 30, up 98.1 per cent from the S$36.1 million net profit in the year-ago period. In a filing with the Singapore Exchange on Friday evening, the property group said that the stronger bottomline was on the back of recognition of a S$28.3 million fair value gain on investment property. This arose from the group completing...

Latest cooling measures to bite harder than earlier ones: CDL

The group chief executive of City Developments Ltd (CDL), Sherman Kwek, says the impact of the property cooling measures rolled out last month will be rather different from that in the 2010-to-early-2013 period. Despite successive rounds of cooling measures being rolled out during those years, private home buyers managed to get round the negativity and continue pushing on, he recalled. Developers...

CDL posts 79.5% rise in Q2 profit on the back of strong sales

City Developments Limited’s (CDL) second-quarter net profit soared 79.5 per cent from a year ago, on the back of strong sales. The property developer on Wednesday (Aug 8) posted a net profit of S$204.8 million, up from S$114.1 million in the same period a year ago. The rise came alongside an almost 60 per cent increase in revenue for the quarter to S$1.36 billion, compared with S$854 million last...

CapitaLand Q2 net profit up 4.4% to S$605 million

Singapore developer CapitaLand's second-quarter net profit rose 4.4 per cent from a year ago to S$605 million, boosted by contributions from newly acquired investment properties in Singapore, China and Germany as well as revaluation gains. These were partially offset by lower portfolio gains and contribution from the group's residential business, CapitaLand said in a statement on Wednesday (Aug 8)...

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