Mainboard-listed Banyan Tree Holdings has signed a management contract for an Angsana Resort & Spa in the island of Saint Lucia in the Caribbean. Banyan Tree said the Angsana Resort & Spa Saint Lucia is the group's fourth foray into the Caribbean. Angsana Saint Lucia is an integrated resort project that will comprise a full scale resort with related facilities and amenities including a marina and...
Developer News
SINGAPORE-LISTED Gallant Ventures is making another effort to add more buzz to its Bintan projects by announcing a slew of new investments, including infrastructure, worth some $500 million. This time around it’s not only the well-heeled it’s trying to draw to its pristine beaches, but also the middle-income investors. It has been talking to Singapore’s Housing Development Board and National Trades...
Developers have lowered asking price to bring in buyers Singapore’s much-anticipated property market slowdown is here. April saw a 58-per-cent dive in new property launches by developers as buyer sentiments soured. According to data released by the Urban Redevelopment Authority (URA) yesterday, developers put 271 new private homes on sale last month, down from 642 in March. Sales dropped by another...
CapitaLand has launched a new programme to encourage more people to adopt a green lifestyle. Called “Building a Greener Future”, the programme features a range of environmental-friendly initiatives. For a start, 100,000 re-usable shopping bags will be given out to shoppers through tenants at the 11 CapitaLand Malls. The bags come with a loyalty programme that rewards shoppers for using the bags,...
Mainboard listed Banyan Tree Holdings on Thursday announced it has booked a 38 per cent increase in first quarter earnings. Its net income for the three months ended March 31 came in at S$15.4 million, largely driven by growth in its hotel investment and hotel residence/property sales segments. Its revenue rose by 34 per cent to S$140.3 million. Banyan Tree said it is cautiously optimistic for the next...
US sub-prime crisis hurts confidence of likely buyers City Developments (CDL) will delay sales of new residential projects in Singapore, where it gets more than half of its revenue. The confidence of prospective home buyers has been eroded by the sub-prime mortgage crisis in the United States and the downturn in global credit markets, the company said. “How long the uncertainty and credit squeeze will...
Property developer City Developments has reported a 31 percent rise in first-quarter earnings to S$165 million. The results came at the lower end of expectations. Revenue fell 1.3 percent to about S$759 million. The Singapore property market cooled substantially in the first quarter in the wake of the US sub-prime crisis late last year. The government also scrapped a deferred payment scheme, which...
Property developer UOL Group has posted a 44 percent drop in first-quarter net profit to about S$43 million. This was due to the absence of a one-time gain on the sale of Central Plaza, which lifted the number in the year-ago period. Revenue rose 11 percent to about S$162 million, boosted by better performances from its hotels in the key markets of Singapore, Australia and Vietnam. UOL also benefited...
Property developer SC Global saw its net profit rise 75 percent in the first quarter to S$19.2 million, despite revenue falling 20 percent to S$43 million. But the outlook going forward appears cautious. Like many other developers releasing results in recent days, SC Global said market sentiment has been dampened by the sub-prime fallout in the US. It said medium to long-term fundamentals in the...
Asia Food & Properties has returned to the black in its fiscal first quarter. The firm reported a profit of S$45 million, overturning a loss of S$2.7 million in the year-ago period. Revenue rose 9.5 percent to S$195 million, mainly from its China property business and its food operations. Asia Food & Properties said the outlook for the commercial and hotel sector of the China property business...