Ascott Residence Trust, the serviced apartment operator partly owned by CapitaLand, said it will buy 28 properties in Europe and Asia from Ascott for $969.6 million. Ascott Residence will also sell its stake in a Beijing serviced residence property for $214 million to Ascott, it said in a statement to the Singapore exchange. The purchase will increase Ascott Residence’s asset size to $2.85 billion, it...
Capitaland
Developer CapitaLand said its unit CapitaLand Treasury has priced its S$350 million 10-year bond to yield 4.3 per cent per annum. The bond due in August 2020 is part of its S$3 billion multi-currency programme. The firm added it will also guarantee the payment obligations of its unit. CapitaLand intends to use the proceeds to refinance existing debt and fund new investments and general working capital...
Mainboard-listed developer CapitaLand is back in the black in its fiscal second quarter. It made a net profit of S$476.1 million in the three months to June. That's a turnaround from the S$156.9 million loss incurred in the same period a year ago. CapitaLand said the strong profit growth compared to last year reflects a recovery in Singapore and the key markets it operates in. Revenue for the quarter...
The Ascott, CapitaLand's wholly-owned serviced residence business unit, has expanded its presence into Bali, Indonesia. It has won a contract from Indonesian developer PT Rudy Indopratama Sejahtera to manage a 174-unit serviced residence in Kuta, to be called Citadines Bali Kuta. The new serviced residence, which is targeted to open in 2012, will be located on the main arterial road of Jalan Raya Kuta,...
CapitaLand's Australian unit, Australand, said on Tuesday that it returned to the black for the first half this year. Australand's net profit for the six months ended in June came in at 72.2 million Aussie dollars. That's a reversal of the 268.8 million Aussie dollar loss it incurred over the same period last year. Much of the improvement was due to investment property revaluation gains of 11.7 million...
CapitaLand's Australian unit, Australand, said on Thursday that it has established a 1.3 billion Australian dollar unsecured debt facility. This replaces existing secured facilities totalling A$1.15 billion. The new facility comprises three tranches: A$325 million expiring in June 2012, A$650 million expiring in June 2013 and A$325 million expiring in June 2014. Australand said the new facility reduces...
Developer CapitaLand said on Monday that Mr Wong Heang Fine has assumed the chief executive officer position at CapitaLand Residential Singapore. Mr Wong's appointment follows the departure of Ms Patricia Chia, who is leaving the company to spend time with her family. In a statement, CapitaLand said Mr Wong will concurrently continue in his present role of developing CapitaLand's business in the Gulf...
Southeast Asia's largest property developer CapitaLand said it has seen strong response for its first residential property in Vietnam. At a topping out ceremony in Ho Chi Minh City on Tuesday, CapitaLand said it has sold three quarters of the units available in the development, called The Vista. The property is about 10 minutes drive from the central business district. The Vista is expected to be ready...
Southeast Asia's largest property developer, CapitaLand, is doubling its real estate investments in Vietnam to up to US$2.5 billion over the next three to five years. It is aiming to build affordable homes and shopping malls in major Vietnamese cities like Hanoi and Ho Chi Minh City, said CapitaLand's CEO Liew Mun Leong on the sidelines of an event in Hanoi. CapitaLand now spends about US$1.2 billion in...
Property developer CapitaLand's CEO Liew Mun Leong has been conferred a Distinguished Honorary Membership by the Securities Investors Association of Singapore (SIAS). SIAS says the appointment is in recognition of Mr Liew's support for transparency to shareholders and the investing community, including retail investors in Singapore. CapitaLand and Mr Liew have supported SIAS since its inception,...