CapitaLand has announced it has acquired an additional 50 per cent interest in Innov Tower, Shanghai, for approximately S$56 million. CapitaLand said it exercised its right of first refusal to acquire from CITIC Trust Co Ltd, its 50 per cent interest in Caike Property (Shanghai) Co Ltd in which CapitaLand has an existing 50 per cent interest. Innov Tower is the sole asset of Caike, a company incorporated...
Overseas Property
CapitaLand has acquired a residential site in Hangzhou for S$213.27 million (RMB1,113.98 million) in government land tender. This translates to about S$2,662.35 per square metre per plot ratio. The 32,040-square-metre residential site is located in Hangzhou's Gongshu District and has an approved gross floor area of 80,105 square metres. CapitaLand said it plans to build an estimated 700 units of mid- to...
Singaporeans are snapping up overseas properties, especially those in London. Analysts said the demand for overseas property investments is mainly boosted by a strong Singapore dollar. And now, with increasing volatility in the equity markets, more investors here are likely to park their funds in high-yielding overseas properties. According to a report by Knight Frank, Singaporeans tied with the French...
More Singapore buyers are setting their sights on properties in India, according to a Q2 survey done by PropertyGuru. The survey, which featured over 2,200 respondents found that 14% of those considering overseas property investments listed India as their top pick, behind Malaysia (37 percent) and ahead of Australia (10 percent). Many analysts expect India’s real estate market to be relatively buoyant...
SGX-listed Yanlord Land Group announced on Monday that it has sold 58.4 per cent, or 181 out of its 310 apartment units, at its inaugural launch of Yanlord Riverside Gardens in Tianjin, China. Yanlord Riverside Gardens is the group's second international community development in Tianjin and contracted a total of 572 million yuan in pre-sales. The real estate developer said that despite market...
Mapletree Investments has acquired a major retail and commercial complex in Hong Kong for HK$18.8 billion or about S$2.9 billion. Mapletree, a wholly-owned property arm of investment company Temasek Holdings, said it is buying Festival Walk - located in Kowloon Tong on the Kowloon peninsula - from Swire Properties. Festival Walk has a seven-storey shopping mall and a Grade-A office tower with a gross...
City Developments Limited China, a wholly-owned subsidiary of City Developments Limited has successfully acquired a 4.5-hectare site in Suzhou, China with a permissible gross floor area (GFA) of approximately 3.2 million square feet. CDL China will construct 750 high-end residential apartments, an office tower, a retail mall and a luxury hotel on the site located in the heart of Suzhou Industrial Park...
Surbana Corporation, jointly owned by Temasek (60 per cent) and CapitaLand (40 per cent), said it has acquired a residential site in Chengdu China, for about US$105 million. The 804,000 square feet site was purchased through a public auction. Surbana said it will yield a potential gross floor area of over 300,000 square metres. This translates to about 3,200 apartments. Construction is expected to start...
Luxury residential prices and rents in Hong Kong rose to a new high in the second quarter of the year due to tight supply and strong demand from mainland Chinese buyers, according to a report by Colliers International. Overall luxury residential prices rose by 3.8 per cent on a quarterly basis to a record of HK$19,520 (S$3,024) per sq ft in the three-month period ended May, surpassing the previous peak in...
The International Monetary Fund (IMF) remains concerned with the potential for a property price bubble in China even though the country's elevated inflation rate may peak within the next month or two. While efforts by China to cool the real estate sector have reduced transaction volumes and property price increases, home prices in some larger cities still look "bubbly", Mr Nigel Chalk, IMF mission chief...