Real estate developer Japan Land on Thursday said it has completed its new Jurong Data Centre in Singapore. The total project cost for Phase One amounted to S$215 million. Japan Land invested about S$40 million in the project, with the remaining funds coming from various other investors. The developer said it will explore similar opportunities in Asia, especially in Malaysia, China and India. The new...
Developer News
Property developer UOL Group on Tuesday said that its full-year profit nearly tripled to S$424.1 million. The good showing came on the back of a 12 per cent increase in revenue to S$1 billion. UOL said the increase was due mainly to higher income from property development and property investments. Such earnings helped to partially offset higher finance expenses. While there are still concerns over the...
Property developer CapitaLand said it has generated S$17 billion in total shareholder returns over the last decade. The company disclosed this at its 10th anniversary celebrations on Friday evening. The firm celebrated its success in transforming itself from a S$9 million company to a group that now commands a market capitalisation of S$40.3 billion as of the end of last year. CapitaLand was formed from...
Property developer Roxy Pacific has doubled its profit in the fourth quarter. Profit for the three months ended December soared 104 per cent to S$5.9 million on higher sales growth in the group's property development division. Revenue over the same period rose 47 per cent to S$44 million. However, the improvement in turnover was offset by a 16 per cent decrease in revenue from the group's hotel ownership...
Niche property developer Hiap Hoe said its full-year net profit more than quadrupled by 319.5 per cent to a record S$34.3 million. The better showing was driven by revenue recognition for several of its development projects. For the full year, revenue surged 272 per cent to S$110.5 million. In the fourth quarter, Hiap Hoe's profit soared to S$9 million, compared with just S$300,000 the year before. Its...
Property developer Yoma Strategic Holdings said its third quarter net loss narrowed to S$420,000 compared with a loss of S$510,000 in the year-ago period. Its revenue for the third quarter, however, rose 47 per cent to $5.31 million from $3.61 million in the same quarter last year. Yoma said this was due to a significant increase in its sales of land and buildings. Revenue for its construction-related...
Singapore-listed property developers Yanlord and Ho Bee have jointly acquired a 13.69 hectare prime residential development site in Shanghai's Qingpu District for around S$784 million. The site is situated a mere 5.5 km from the heart of the Hongqiao Commercial District which has been earmarked by the Shanghai municipal government to be the city's fully integrated financial, commercial and logistical hub...
Mainboard-listed property group Ho Bee Investment said its full year net profit jumped 262 per cent to S$337 million from the preceding year. The strong profit was achieved on the back of a record revenue. Revenue for the financial year ended December 31 almost quadrupled to S$1.16 billion. Sales rose 284 per cent from the S$302 million achieved in 2008. The company also recorded strong fourth-quarter...
Mainboard-listed property developer CapitaLand has seen a spectacular jump in its fourth-quarter net profit ended in December. It said on Thursday that its fourth-quarter profit was S$886 million, up by more than 11 times from S$78 million a year ago. The surge was due mainly to its listing and offering of its CapitaMalls Asia (CMA) shares, leading to a gain of S$899.8 million. Divestments of several...
Mainboard-listed property developer Soilbuild is proposing a share split of each ordinary share in the firm into two ordinary shares. Currently, Soilbuild has an issued and paid-up share capital of S$58.4 million, divided into 217.3 million issued shares. After the split, the paid-up share capital remains, but the number of shares will double to 434.6 million. Soilbuild said the share split will improve...