CapitaLand Residential chief executive officer Wong Heang Fine has been appointed the new president of the Real Estate Developers' Association of Singapore (REDAS). Sources say that this followed Amara Holdings CEO Albert Teo's decision to decline the position. Mr Wong will be president for the REDAS management committee term of 2011 and 2012, taking over from Mr Simon Cheong, the chairman of SC Global...
Capitaland
CapitaLand has said it will acquire enbloc property Marine Point for S$100.68 million. The latest acquisition brings CapitaLand's pipeline of homes in Singapore to 2,600 units altogether. Marine Point, located in the Marine Parade neighbourhood, will be acquired at S$1,056 per square foot per plot ratio. This is inclusive of a development charge of S$12.8 million, said CapitaLand in a...
CapitaLand's Australian subsidiary, Australand, said its industrial and residential properties in Queensland have been affected by the floods. CapitaLand announced in a filing with the Singapore Exchange that the situation for its Australian assets remains uncertain as the clean-up continues, and the full impact is yet to be determined. Australand's industrial assets at 44 Cambridge Street and 99...
CapitaLand said that it is set to develop its second Raffles City integrated development in Shanghai. It is the seventh Raffles City project in China. Raffles City Changning, as the development has been named, will be located in Shanghai's Changning District, near the Hongqiao Transportation Hub, according to the announcement. The integrated development will consist of a Grade A office tower and a...
CapitaLand said that its China unit sold, over the Christmas weekend, more than half of the units in a high-end residential project recently launched for sale in Beijing. A tower comprising of 220 units at the Beaufort condominium was released for sale on Christmas day. "To date, about 60 per cent of the units have been sold," CapitaLand, which counts on China for about a fifth of its sales, said in a...
Southeast Asia's largest property developer CapitaLand said on Friday it had sold units at a property in downtown Singapore for a total of S$218 million. Its indirect subsidiary Adelphi Property Pte. Ltd has sold 86 office units and 77 retail units to Guthrie Pte. Ltd. and its joint venture partner Sun Venture Property Pte. Ltd. The property is a 999-year leasehold, 10-storey mixed-use building...
Property developer CapitaLand on Wednesday said it has entered into a joint venture with Mitsubishi Estate Asia and GIC Real Estate to invest in residential projects in Vietnam. CapitaLand will invest US$100 million for a 50 per cent stake. Each of the other two partners are investing US$50 million for a 25 per cent stake. The joint venture will use the committed capital for acquisitions and development...
Southeast Asia's biggest property developer Capitaland's third-quarter net profit slumped 43.3 per cent from a year earlier to S$159.6 million. Revenue declined by 34.6 per cent from a year earlier to S$684.6 million because of lower revenue recognition upon completion of residential projects in Singapore. Loss of rental revenue following the divestment of Clarke Quay in Singapore and three shopping...
Two Singapore property companies CapitaLand and Keppel Land are investing some US$218 million in the real estate market in Vietnam. CapitaLand signed a joint venture agreement with Vietnamese partner No Va Land Investment Group to develop a 9,000 square metre residential site, worth US$40 million in Ho Chi Minh City. Keppel Land signed two joint venture agreements. The first is to jointly develop a 9.8...
CapitaLand has said its new development at Bedok Town will likely attract potential buyers such as HDB upgraders. Property analysts believe the area will also be rejuvenated as it now lacks new residential and commercial developments. The Bedok Bus Interchange will receive a facelift in the fourth quarter of next year. The bus interchange, together with a piece of land next to it, will be transformed and...