CapitaLand is buying the real estate business of Hong Kong's Orient Overseas International for about S$3.1 billion in cash. The move will double CapitaLand's property portfolio in China, which will now make up 36 per cent of the group's total assets following the acquisition. The latest acquisition will expand its portfolio to include seven sites for development in Kunshan, Tianjin and...
Developer News
Keppel Land has signed a joint venture agreement with its Vietnamese partner Tien Phuoc to develop an 11-hectare waterfront residential site for 175 villas fronting the Saigon river in Ho Chi Minh City. The signing was witnessed by Prime Minister Lee Hsien Loong and Vietnamese Prime Minister Nguyen Tan Dung. This is the third project that Keppel Land and Tien Phuoc are working on together. The other two...
Property developer CapitaLand has signed a joint venture agreement for a second residential project in Hanoi, Vietnam. The agreement with Vietnamese real estate developer Hoang Thanh is to jointly develop a 14,000 square metre residential site in Ha Dong district in Hanoi. Prime Minister Lee Hsien Loong and Vietnamese Prime Minister Nguyen Tan Dung witnessed the signing in Hanoi on Tuesday. CapitaLand...
Mainboard-listed construction firm Lian Beng Group on Tuesday said its half year net earnings rose 28 per cent to S$11.4 million from a year earlier. This was on the back of a 4 per cent rise in revenue to S$157.6 million for the six months ended November. Lian Beng said the top-line growth was driven by revenue recognition on progress made in the construction of various projects. These include the Ritz...
Property developer Keppel Land said it has acquired a third township site in Vietnam's Ho Chi Minh City. Through its wholly-owned subsidiary, Flemmington Investments, Keppel Land has entered into a joint venture with two Vietnamese developers. Flemmington will work with Tien Phuoc and Tran Thai to develop a waterfront residential township in Ho Chi Minh's popular District 2. Under the joint venture,...
Malaysia-based YTL Corporation is officially launching "Kasara - The Lake", a collection of 13 luxury villas in Singapore's Sentosa Cove. Six of the 13 villas previewed have already been bought by buyers from Singapore, Europe and the Asia-Pacific region at prices ranging from S$14 million to S$22 million. Villas range in sizes - from 9,000 square feet, with two good-sized parcels of more than 14,000...
Property developer CapitaLand said on Wednesday its high-end development, Urban Suites, saw good results in its recent preview sales. Under the first phase of the sale launched before Christmas, 60 of the 165 units were released to buyers who were prepared to purchase more than one unit. CapitaLand said all 60 units were sold at prices ranging from S$2,400 to S$2,700 per square foot. It plans to launch...
Far East Organization said it has seen strong demand for its latest project, The Shore Residences, since private previews started two weeks ago. The 408-unit residential development is located in the Katong area. Far East said over 70 units have been sold and prospective buyers have also registered their interest for units, which will be released at the official launch on January 21. Among them, the...
Mainboard-listed property investment firm Japan Land said Wednesday it has appointed Leow Tet Sin as managing director and member of the nominating committee of the company with effect from December 23. The appointment resolves a conflict of interest issue that has plagued the company since last month when Japan Land's independent director, lawyer and Tampines Member of Parliament Sin Boon Ann, resigned...
Singapore-listed developer Yuexiu Property said on Tuesday that one of its units has acquired a plot of land in China for 544 million yuan or about S$112 million. It said its 95 per cent-owned subsidiary acquired the land in Guangdong's Zhongshan City last week through a public land auction. The plot of land has a permissible gross floor area of about 418,000 square metres and a site area of some 167,000...