Yanlord Land Group has acquired a residential development site in Shanghai for about 2.89 billion yuan ($568 million), the Singapore listed developer said yesterday in a filing with the stock exchange. The land, which was acquired in a public auction, is in Tangzhen New District in Shanghai's Pudong and has a total planned gross floor area of about 179,944 sq m, Yanlord said. The winning bid translates to...
Developer News
Keppel Land says it will strengthen its focus in China through a wholly-owned subsidiary, Keppel Land China, which is being established to own and operate all of Keppel Land's properties in the country. Building on the Keppel Group's strong network and track record in 20 cities across China, Keppel Land currently has a total gross floor area (GFA) of 5.3 million square metres which translates to more than...
Building houses is a profitable business in China - something the Yanlord Land Group knows all too well. But the property giant did not start off in real estate. When it first set up shop in Singapore in the 80s, it focused mainly on trading and manufacturing. With China as its main market, Yanlord soon found it hard to compete against local rivals. But it was quick to spot another golden opportunity...
Singapore, which boasts the world's highest density of millionaires, has been attracting foreign entrepreneurs. Yanlord Land Group founder and CEO Zhong Sheng Jian, originally from China, said coming to Singapore was the best decision he has ever made. Yanlord Land Group is the biggest China-based property developer listed in Singapore. "I can say that my success is built on the experience I've acquired...
Mainboard-listed property developer Soilbuild Group on Tuesday said it has received an offer from investment firm Dolphin Acquisitions valued at S$418 million to privatise the company and to delist it from the Singapore Exchange. Dolphin Acquisitions, a company controlled by Soilbuild's group managing director Lim Chap Huat, has offered to acquire Soilbuild's shares at 80 cents a piece from its...
Fragrance Group says wholly-owned subsidiary, Fragrance Realty Pte Ltd, has entered into an agreement to acquire the property known as MK25 Lots 06219X and 06220K at Geylang Road for $31.55 million. The development land has a freehold tenure with a total land area of 1,681.2 square meters. The development land can yield a maximum permissible gross floor area of 5,043.60 square meters. Fragrance Group...
Developer Keppel Land has acquired an additional 66 hectares of a waterfront site in Zhongshan in China's Guangdong province. This now completes Keppel Land's acquisition of an 86 hectare site for its first waterfront residential cum marina development in China. Keppel Land had first announced in April 2008 its interest to develop premium waterfront homes in the affluent Pearl River Delta region of...
CapitaLand has said its new development at Bedok Town will likely attract potential buyers such as HDB upgraders. Property analysts believe the area will also be rejuvenated as it now lacks new residential and commercial developments. The Bedok Bus Interchange will receive a facelift in the fourth quarter of next year. The bus interchange, together with a piece of land next to it, will be transformed and...
FAR East Organization and Orchard Parade Holdings will buy Pastoral View (through an enbloc sale) and the next door plot being sold by OCBC for $122 million. This works out to about $847 per square foot per plot ratio (psf ppr) inclusive of a marginal development charge (DC). Both freehold sites have a combined land area of 51,395 sq ft and can be redeveloped into a new condo with about 140 units...
The Housing and Development Board (HDB) has awarded the tender of a site at New Upper Changi Road/Bedok North Drive to joint bidders Brilliance Residential and Brilliance Trustee. The companies submitted the highest bid of S$788.9 million for the site, which is meant for mixed commercial and residential development integrated with a bus interchange. The site has a land area of 24,902 square metres and a...