HEETON Holdings has finally sold its entire interest in the completed iLiv@Grange project. This was through a sale of shares in a wholly-owned subsidiary of Heeton which in turn owns 100 per cent interest in the company that developed the 30-unit freehold project. The deal values the entire 16-storey project (on an en-bloc basis) at S$95 million, which works out to S$1,623 per square foot based on...
Developer News
ROXY-PACIFIC Holdings has agreed to acquire a freehold residential site at Jalan Eunos for S$10.978 million, the developer announced on Wednesday after the market closed. The site, which comprises lots at 180, 182 and 184 Jalan Eunos, has an estimated total land area of 7,685 square feet and an existing gross plot ratio of 1.4 under the 2014 Master Plan. Roxy-Pacific, through wholly owned subsidiary RH...
Cheung Kong Property Holdings is open to selling its buildings in Hong Kong, Deputy Chairman Victor Li told analysts at a briefing Thursday. "I always look at deals, it's my job to look at deals, both purchases and sales," Mr Li said when asked if he would consider selling commercial buildings, according to a recordingof the briefing. "There is no deal that we must have, there is no property we must...
DEVELOPERS Sinarmas Land and KOP have agreed, through their subsidiaries, to develop parts of Nuvasa Bay, a high-end integrated residential and mixed-use development in Nongsa, Batam. Sinarmas Land's subsidiary PT AFP Dwilestari and KOP's subsidiary KOP Properties on Sunday signed a memorandum of understanding to develop various parts of Nuvasa Bay's beachfront and lagoon areas for landed houses,...
Faced with a looming November deadline to finish selling all its units in the completed Nouvel 18 condo project in a plush District 10 locale, City Developments Ltd (CDL) is racing to stitch together a profit participation securities (PPS) scheme for the project, BT understands. The deal, if it materialises, will see CDL's role in Summervale Properties, the company that developed the 156-unit freehold...
SC Global Developments Pte Ltd, a developer of upmarket residences, on Thursday unveiled an Enhanced Purchase Plan that allows prospective buyers of its Hilltops condominium to earn a 10 per cent return per annum on a 20 per cent downpayment - in what is believed to be the first such financing scheme in the market. Prospective buyers will be given a two-year option to purchase the units at a price that...
DEVELOPMENT 35 has completed the acquisition of 20 Lorong 35, Geylang. The plot, which has an area of about 1,115 square metres, comes with a price tag of S$20 million. Development 35 is 51 per cent owned by TEE Land and 49 per cent owned by KSH Holdings. Development 35 intends to develop a block of eight-storey residential flats with roof terrace and swimming pool, subject to obtaining all the...
CITY Developments Limited (CDL) has increased its shareholding interest in Summervale Properties from 50 per cent to 100 per cent, after its wholly-owned subsidiary, Sunmaster Holdings, completed the acquisition from Wing Tai Land (WTL) for S$410.96 million. Both CDL and WTL had considered various ways to optimise their interests in Summervale, which is the owner and developer of Nouvel 18, a prime...
CAPITALAND announced on Wednesday the setting up of a venture fund, C31 Ventures, to tap global tech startups as part of its ongoing effort to innovate and build real estate of the future. The Singapore-listed real estate group said it is prepared to eventually invest up to S$100 million as it seeks compelling investment opportunities beyond Singapore. C31 Ventures targets startup companies that fit...
BT recently reported that Singapore-listed City Developments Ltd (CDL) may be at the preliminary stages of exploring the possibility of carrying out a third profit participation securities (PPS) exercise - this time for a portfolio of 48 apartments in three of the property developer's completed projects in Singapore's Core Central Region. It is interesting to look at the merits of this latest exercise...