The Urban Redevelopment Authority (URA) has awarded the tender for the residential site at Boon Lay Way and Lakeside Drive to Keppel Land Mayfair. The company submitted the highest tender for the site at S$302.9 million, or about S$5,370 per square metre, per gross floor area. In a statement, developer Keppel Land says it plans to develop about 550 homes of sizes ranging from 500 square feet to 1,400...
Developer News
The tender for the land parcel at Boon Lay Way and Lakeside Drive has attracted the highest bid for a residential site this year. Keppel Land Mayfair, a subsidiary of Mainboard-listed Keppel Land, has submitted the highest bid of $302.98 million for the 1.6-hectare site which can potentially yield 525 units. This was a tad higher than the $302-million bid from Sim Lian Land for the tender of a 3.2ha land...
The tender for a residential site at Boon Lay Way and Lakeside Drive has attracted the highest bid of about S$303 million from Keppel Land. The bid by Keppel Land Mayfair works out to about $483 per square foot per plot ratio. At the close of the tender, the Urban Redevelopment Authority (URA) says that a total of 14 bids were received for the site. The next highest bid came from MCC Land at S$263...
Mainboard-listed MCL Land said its first quarter net profit jumped to US$48.7 million (S$46.6 million) for the period ended March 31. This compared to net profit of US$1.4 million posted in the same quarter a year ago. The higher profit is due to the write back of an impairment charge of US$51 million for The Estuary, a condominium project. Meanwhile, the company continues to carry an impairment charge...
Property group CapitaLand announces a slew of management changes aimed at strengthening its next level of leadership. For its retail business, the property giant has appointed Mr Tony Tan as Deputy CEO of its CapitaRetail China Trust Management. He will also continue to hold his current position as head of finance in the same unit. At CapitaMalls Asia (CMA), Hazel Chew, who currently heads the finance...
Mainboard-listed Orchard Parade Holdings says its first quarter net profit jumped to S$9.3 million sing dollars for the period ended March 31. This compared to net profit of S$107,000 posted in the same quarter a year ago. The improved profit came on the back of higher revenue and a gain from the revaluation of its investment properties. The revaluation saw a S$1.6 million gain compared to a loss of...
Property developer Fragrance Group said its net profit rose 42.6 per cent on-year in the first quarter to S$14.4 million. But turnover fell 17.7 per cent to S$41.8 million due to lower contributions from its property development operations. However, this was partly offset by an increase in revenue contribution from its hotel business. Going forward, Fragrance said it intends to launch another two landed...
Mainboard-listed United Industrial on Friday said its first-quarter net profit fell 19 per cent on-year to S$59.5 million. But its revenue for the three months that ended March 31 rose 34 per cent to S$261.5 million. United Industrial said the increase was mainly due to higher sales of trading properties and higher revenue from hotel operations. Sales of trading properties rose 75 per cent to S$141.4...
GuocoLand said its net profit almost doubled on year to S$9.5 million for the third quarter ended March 31. But its revenue fell 15 per cent to S$107.6 million compared to the same period last year. The group said the higher profit contribution was mainly from property development projects in China. As such, its income tax expenses surged from S$800,000 to S$6 million. Administrative expenses for the...
KepLand property fund unit positive on residential, office, retail and hospitality EMERGING economies may be all the rage, but Keppel Land's property fund manager Alpha Investment Partners still sees good returns coming from matured Asian markets. Alpha is positive on the residential, office, retail and hospitality sectors in 'core' markets such as Singapore, Hong Kong, South Korea and Taiwan. The one...