Singapore property giant CapitaLand has crossed the shareholding threshold that will allow it to compulsorily acquire the remainder of CapitaMalls Asia (CMA). As at 5pm on 6 June, CapitaLand and concert parties own or have agreed to buy 97.1 percent of CMA's issued share capital -- above the 97.02 percent level that will allow the compulsory acquisition, a spokeswoman said on Sunday. CMA shares will...
General
More shopping malls in Singapore are going green in the global push to be more environmentally friendly. Such green features help to reap savings in energy and water usage. But in addition, some consultants say, they also help to create a safer shopping experience for consumers There are 32 eco-malls in Singapore according to the Building and Construction Authority, and some of the green features...
A growing number of local property developers are seeking opportunities abroad. Frasers Centrepoint is the latest to enter the fray after submitting a proposal for a takeover of Australian developer Australand. Industry experts said that is because local players have accumulated strong cash balances and are looking for opportunities abroad as cooling measures weigh on the local property...
Seventy-five buildings - including Alexandra Hospital, Queenstown Public Library and parts of Seletar airbase - were gazetted to be conserved as part of the Urban Redevelopment Authority Master Plan 2014 on Friday (June 6). All 75 buildings had been proposed for conservation under the Draft Master Plan 2013. The Master Plan, gazetted on Friday by Chief Planner Lim Eng Hwee, is the statutory land use...
Resale prices for Housing and Development Board (HDB) flats dipped for the fourth month running, a decline seen across all HDB property types, according to the Singapore Real Estate Exchange (SRX). HDB resale prices for May fell by 1.2 per cent over the previous month, marking a two-year low since April 2012. Prices for executive flats fell the most at 2.8 per cent, while 3- and 4-room flat prices...
China's urbanisation will continue to drive fundamental demand for homes and real estate. Speaking on Wednesday at the World Cities Summit China In-Focus Forum in Singapore, CapitaLand's CEO Lim Ming Yan estimated that there is demand for 35 million homes, based on the expectation that over 100 million people will be moving to the Chinese cities over the next few years. Mr Lim said on average there...
CapitaLand on Thursday (June 5) announced that it holds more than 90 per cent of the issued shares of CapitaMalls Asia (CMA) - crossing the threshold it needs to delist its shopping mall arm. CapitaLand said in a press release that it has submitted an application to the Singapore Exchange to delist CMA, and CMA shares will be suspended from trading after on June 9, the close of its offer to buy out...
Property developer Frasers Centrepoint said on Wednesday (June 4) that it has submitted a A$2.6 billion (S$3.03 billion) takeover bid for Australia's Australand Property Group. Frasers Centrepoint has proposed a cash offer of A$4.48 per share, topping a A$4.43 offer made by Australand stakeholder Stockland Corp, Australia’s second-largest property group. Australand’s board intends to recommend...
Unveiled at the World Cities Summit on Wednesday (June 4) - the first prototype of a town planning tool which can simulate a built-up environment of a city, as well as analyse the impact of initiatives such as LED lighting and solar energy. Developed by the Housing and Development Board (HDB) together with French companies Electricite de France (EDF) and Veolia Environment Recherche et Innovation, the...
JTC Corporation is joining hands with the Sustainable Energy Association of Singapore (SEAS) to work on energy efficiency solutions for buildings in JTC's business parks and industrial estates. The two partners signed a memorandum of understanding (MOU) on Tuesday (June 3). They plan to co-develop energy efficient solutions, such as harnessing solar energy, converting manufacturing waste to energy and...