Developer wants to build luxury homes and hotels across Asia and Europe FOLLOWING the launch of The Hamilton Scotts on Scotts Road, its developer Hayden Properties is now setting its sights on the region and beyond to develop and build similar ultra-luxurious homes. Hayden has an interesting mix of owners. It is 50-per-cent owned by KOP Capital, founded by 39-year-old lawyer Ong Chih Ching and Leny...
Developer News
Southeast Asia's biggest property developer, CapitaLand, has set up a US$1 billion private equity fund to invest in mixed-use commercial properties in China. The size of the fund could be increased to US$1.3 billion by the end of this year. The Raffles City China Fund is the first for CapitaLand in China and also the largest in value it has ever managed. The fund will target prime mixed-use commercial...
Inflation is soaring in Vietnam, and that's driving up overall business costs there. Despite this, Keppel Land said it will not have any impact on its property projects in the country in the short term. In a filing with the Singapore Exchange, the property developer said its joint ventures with strong local partners in Vietnam is helping the company to manage its cash flows. It is also forming...
Frasers Hospitality - the property arm of mainboard-listed Fraser & Neave - is planning to grow its presence in the emerging markets of China, India and Vietnam. Revealing this at a news briefing on Thursday, Frasers said it plans to add about 5,000 serviced apartment units to its portfolio over the next two years. It is scheduled to open 10 new properties this year, and another 25 over 2009 and...
Katong Mall has been sold in a collective transaction to property developer Tuan Sing Group for S$219 million. Including a premium of S$24.5 million to top up the site's lease, the price works out to about S$865 per square foot of gross floor area. The tender for the 99-year leasehold commercial development in the Marine Parade area was launched in May. Katong Mall, located at the junction of East Coast...
Construction of Phase 2B of Fusionopolis has begun with the ground-breaking ceremony for a 15-storey building called Solaris. It is being developed by Soilbuild Group - the first private sector developer at Fusionopolis cluster at one-north. Its $148-million new building will cover :an estimated gross floor area of 540,000 square feet and is slated for completion in 2010. It will house research...
Property developer CapitaLand has acquired about 62 per cent of Sungei Wang Plaza, one of the most established retail malls in Kuala Lumpur. It paid about S$250 million for the purchase, which includes retail space and parking lots. Sungei Wang is a prime freehold property along the main Bukit Bintang shopping precinct in the Malaysian capital. The mall has close to 100 per cent occupancy and sees more...
CapitaLand said land prices in Vietnam and India have fallen by as much as 15 per cent this year, making it easier to get sites now than a year earlier. There may be more opportunities in “greenfield sites”, chief investment office Kee Teck Koon said at a property conference held here yesterday. CapitaLand is also looking at expanding in Japan, where it may acquire properties and set up funds for...
Emerging markets are a part of its expansion plan Frasers Hospitality, Asia’s second-biggest serviced-apartment operator behind CapitaLand’s Ascott Group, is in talks to set up private equity funds to invest in China, India and South-east Asia after delaying its planned share sale. The company, which expanded its portfolio eight-fold to 3,287 apartment units in the past decade, is raising funds for...
Mr Li Ka Shing’s Cheung Kong Holdings, Asia’s second-largest developer by market value, said it is keen to invest in Hong Kong, China and Singapore as the region’s property market is undergoes a “small consolidation”. Prime offices and industrial parks offer investment opportunities because of economic “fundamentals” in the region, Cheung Kong’s Executive Director Justin Chiu said at a...