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...
Overseas Property
Property developer Yanlord Land on Friday said its first quarter net profit more than tripled on year to S$9.3 million. This was due mainly to a sustained growth in demand and higher average selling prices for its high-end residential units in the quarter. Revenue rose 30 per cent on year to S$116.2 million. China-based Yanlord said the mainland's real estate sector continues to show strong growth...
CapitaLand's Ascott unit has bought an existing serviced residence in London for S$116.4 million. The property is located within London's 'Midtown' region at High Holborn. Ascott is currently leasing the property from Land Securities, the UK's largest real estate investment trust. The property is being operated under the brand name Citadines London Holborn-Covent Garden. The 192-unit serviced residence...
Keppel Land has entered into a joint venture with Sunsea Yacht Club to develop its first integrated residential cum marina lifestyle development in Zhongshan, Guangdong. Keppel Land will have an 80 per cent stake in the venture to develop the waterfront homes in the affluent Pearl River Delta region of Zhongshan. Targeted at the upper-middle to upper income segments, the proposed residential project...
Luxury resorts and spa operator, Banyan Tree, has announced aggressive plans to expand its global operations. The company believes that China-led growth will be a defining feature of global travel over the next few decades. So, it's expanding its operations in the Chinese mainland to 12 locations from the current four. To support the expansion, Banyan Tree said it's planning to launch a new US$400...
CapitaLand has acquired a prime 30-acre site to build its first IT park and a grade-A office complex in India. The deal was done through its 49 percent-owned associate LOMA IT Park Developers. The site was purchased at a price of S$79 million from Standard Industries, a company listed on the Bombay Stock Exchange and the National Stock Exchange of India. It is located in the Trans Thana Creek industrial...
Property developer Keppel Land has secured an option to develop a residential site in Vietnam's Ho Chi Minh City. The project is estimated to cost US$390 million. Keppel Land signed the agreement through its wholly-owned subsidiary Earlsbay Investments. Under the deal, the Singapore developer will hold a 60 percent stake, while local property developer Hong Quang takes on the remaining interest. The...
Property developer CapitaLand is joining hands with Mubadala Development to invest in the property sector in Abu Dhabi. The two partners have launched a joint venture company called Capitala. They are pumping in US$300 million into the joint venture. Mubadala Development will hold a 51 percent stake, with CapitaLand holding the remaining 49 percent. Capitala will develop mainly residential properties in...
Prime Minister Lee Hsien Loong has responded positively to a suggestion by Johor's Chief Minister Abdul Ghani Othman to link up the urban rails of Singapore and Johor Bahru. The issue was discussed when visiting Malaysian Foreign Minister Rais Yatim called on Mr Lee at the Istana on Thursday morning, said Foreign Minister George Yeo at a joint news conference with his Malaysian counterpart later in the...
COULD Singapore spark the green revolution in China, a country recently named in a University of California report as the world's "biggest polluter"? This possibility is being raised as the Sino-Singapore Tianjin Eco-City — the first collaboration of its kind between Singapore and Beijing since the Suzhou Industrial Park (SIP) in 1994 — takes off. Using the lessons from the Housing and Development...