Singapore developers continued to perform well at the annual FIABCI Prix d'Excellence competition this year. Far East Organisation won the top prize in the Residential Category with its Orchard Scotts project. This is the company's fifth FIABCI award to date, making it the only developer in the world to snag five wins in the prestigious competition. Its previous wins were for developments including The...
Developer News
CapitaLand has won the Cityscape Best Developer Award for its corporate social responsibility efforts. The project that clinched the award for the developer was its Muchuan Green Hope School in China's Sichuan Province. It was selected for showing outstanding social responsibility towards the community and the environment. Co-funded by the CapitaLand Hope Foundation and the local authorities in China,...
CapitaLand's newly released units at The Wharf Residences continued to see strong sales over the weekend, with another 24 units transacted. The developer had earlier sold 85 per cent of the 100 units launched on May 15. All in, CapitaLand said 134 units out of the 173 unit at The Wharf Residences have been sold. Apartments at the 999-year leasehold project are priced at between S$1,300 and S$1,600 per...
CapitaLand said yesterday it had released 100 units for sale at The Wharf Residence and sold 85 units. The average price is between $1,300 to $1,600 psf. This brings the total number of units sold to-date at the development to 110. Buyers will also enjoy stamp duty absorption and an interest absorption scheme. The Wharf Residence is a 999-year leasehold condominium located at Tong Watt Road, off Mohamed...
Mainboard-listed property developer and investment group Sing Holdings said it will launch its latest residential development, BelleRive, at 9 Keng Chin Road today. The freehold development is located in District 10, off Bukit Timah Road between Balmoral Road and Robin Road. The 15-storey apartment tower with 51 units will showcase a clean and modern architectural design. Its two and three-bedroom units...
Hotels and resorts developer Banyan Tree Holdings has posted a first quarter net profit of S$5.2 million, down 66 per cent on-year. Revenue also fell by 33 per cent to S$88.2 million in the three months ended March 31. The company attributed the decline mainly to lower performances from its hotel investment, property sales and hotel residences segments. Banyan Tree said its performance in the next two...
Property developer Soilbuild has tripled its net profit for the first quarter, seeing earnings rise to S$19.5 million. Revenue for the three months to March doubled to S$64.7 million. The higher revenue contributions came mainly from the firm's four residential projects - Montebleu, The Centrio and Espa - which are fully sold, and Leonie Parc View. Its Tuas Lot business space factories also contributed...
United Engineers reported a 593 per cent improvement in net profit surge to S$8.5 million in the first quarter of this year. Revenue for the company also grew 11 per cent to S$148.9 million. The company said this is mainly due to progressive recognition of revenue from the sales of its residential projects, The Rochester in one-north and Park Central @ AMK in Ang Mo Kio. United Engineers said it has an...
UOL Group on Tuesday said its net profit surged 674 per cent to S$332 million in the first quarter this year. It said this was due to gains of S$278 million that came about from negative goodwill after it acquired UIC shares. UOL also attributed the performance to the lowering of the Singapore corporate tax rate to 17 per cent from 18 per cent. Revenue also went up by 22 per cent to S$196.7 million. The...
City Developments has posted a 49.6 per cent decline in first quarter net earnings to S$83.1 million. The Singapore-listed developer said the decline in earnings was mainly due to lower contributions from both its property development and hotel operations. Revenue for the three months ended March fell 18 per cent to S$622.5 million. Looking ahead, CDL said it believes that the global economic scenario...