Overseas Property

CapitaLand, ParkCity condo project in Kuala Lumpur over 70% sold

More than 70 per cent of the units at Park Regent – a joint-venture (JV) freehold residential development in Kuala Lumpur by mainboard-listed CapitaLand and Malaysia’s ParkCity Group – have been sold. Homebuyers have snapped up more than 353 of the total 505 units at an average of RM1,100 (S$365) per square foot, as at 6pm on Sunday, after the priority launch weekend. Malaysians made up 80 per...

Foreigners-only townships not allowed in Malaysia, Lim Guan Eng tells developers

While the Malaysian government is not against foreigners owning property in the country, it will not allow townships and residential projects to be developed exclusively for them, Finance Minister Lim Guan Eng said on Monday (Sept 24). He said no country would accept developments that did not benefit its own people. "Foreigners buying property is not a problem. We welcome that because they are...

Keppel and Gemdale in joint venture to develop a prime residential site in Nanjing

The collaboration marks Keppel Land China’s first foray into Nanjing and further expansion in the Yangtze River Delta region. Keppel Land China Limited (Keppel Land China) has formed a joint venture with Gemdale (Group) Co., Ltd. (Gemdale Corporation) to jointly develop an 8.8-ha prime residential site in Nanjing, China. Keppel Land China has entered into a share purchase agreement (SPA) with...

CDL buys London commercial building for £183m

City Developments Limited (CDL) announced on Friday morning that it has acquired a prime freehold Grade A commercial building in London for £183 million (S$328 million). The project, Aldgate House, is located in the district of Aldgate, right beside Aldgate Underground Station and with six other stations within a five-minute walk. CDL said the acquisition was undertaken "as part of its focus on...

Do your homework when venturing overseas

For those investing for inter-generational wealth transfer, the abundance of overseas properties with freehold tenure is a big draw. The spread of overseas property investment options is staggering. Locations range from Sydney to London to New York and many cities in between. The array of property types include the familiar segments such as residential, office and retail shops, and the somewhat exotic...

SPH buying UK student housing portfolio for £180.5m

Singapore Press Holdings (SPH) has acquired a portfolio of 14 purpose-built student accommodation buildings across six towns and cities in the United Kingdom for about £180.5 million (S$321 million) cash, it announced early on Monday morning. The buildings, acquired from the Unite Group, have a total capacity of 3,436 beds. They include 10 freehold assets and four leasehold assets, and are located in...

Foreigners welcome in Forest City project: Johor minister

The chief minister of the Malaysian state of Johor said on Tuesday (Sep 4) foreigners are welcome to buy property in Chinese developer Country Garden's controversial US$100 billion Forest City project on Malaysia's southern shore. Forest City is a 30-year project that provides jobs for Malaysians, Chief Minister Osman Sapian said, in comments that appeared to contradict Prime Minister Mahathir Mohamad's...

CapitaLand buys prime residential site in Ho Chi Minh City

CapitaLand has bought a 60,732 square metre prime residential site in Ho Chi Minh City, Vietnam, for 1.38 trillion Vietnamese dong (S$81.4 million) in cash, the property developer said on Thursday (Aug 30) during the midday trading break. Under the deal, CapitaLand's wholly owned subsidiaries CVH Sparrow, CLV Investment 2 and CLV Investment have acquired 100 per cent of the charter capital of BCLand...

Johor Forest City project off limits to foreign buyers: Mahathir

Malaysian Prime Minister Mahathir Mohamad on Monday (Aug 27) declared that foreigners will not be granted visas to live in the giant Forest City project in Johor, a major threat to the marketing strategy for the development. It is not his first broadside against the plan by Chinese developer Country Garden Holdings Co to create a new city that was envisaged to eventually house 700,000 people on...

Foreigners allowed to buy land in Malaysia, says Forest City developer on Mahathir’s comments

Hours after Malaysian Prime Minister Mahathir Mohamad said he would ban foreigners from buying homes in the Forest City project in Johor, its developer responded by pointing to laws that allow foreigners to purchase land in the country. In fact, Tun Mahathir had welcomed foreign investment during a meeting with the firm in Beijing just weeks ago, said Country Garden Pacificview. The developer added...

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