Property developer CapitaLand said it has generated S$17 billion in total shareholder returns over the last decade. The company disclosed this at its 10th anniversary celebrations on Friday evening. The firm celebrated its success in transforming itself from a S$9 million company to a group that now commands a market capitalisation of S$40.3 billion as of the end of last year. CapitaLand was formed from...
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Mainboard-listed property developer CapitaLand has seen a spectacular jump in its fourth-quarter net profit ended in December. It said on Thursday that its fourth-quarter profit was S$886 million, up by more than 11 times from S$78 million a year ago. The surge was due mainly to its listing and offering of its CapitaMalls Asia (CMA) shares, leading to a gain of S$899.8 million. Divestments of several...
Property developer CapitaLand on Tuesday said it has seen overwhelming response to its new condominium in Beijing, with 95 per cent of phase one units sold in just over two weeks. The condominium, called the Beaufort, sits on a 53,808-square metre site and is located within walking distance to Beijing Chaoyang Park, one of China's largest city parks. An entire block, comprising 467 units, was launched...
CapitaLand's Australian unit, Australand, said on Tuesday that it made a net loss of A$298.2 million. It said the accounting loss was due to revaluation losses on investment properties amounting to A$249.4 million. Moreover, it incurred the impairment of development and joint venture assets amounting to A$148.4 million, on top of a non-recurring finance cost of A$20.7 million. But Australand said it...
Property developer CapitaLand has reported strong sales at its 165-unit Urban Suites condominium, after selling 90 per cent of the 140 units released. Prices have also increased to between S$2,500 and S$2,800 per square foot compared to the phase one release of its first 60 units. The units in phase one were sold at prices ranging from S$2,400 to S$2,700 per square foot. About 70 per cent of the buyers...
CapitaLand is buying the real estate business of Hong Kong's Orient Overseas International for about S$3.1 billion in cash. The move will double CapitaLand's property portfolio in China, which will now make up 36 per cent of the group's total assets following the acquisition. The latest acquisition will expand its portfolio to include seven sites for development in Kunshan, Tianjin and...
Property developer CapitaLand has signed a joint venture agreement for a second residential project in Hanoi, Vietnam. The agreement with Vietnamese real estate developer Hoang Thanh is to jointly develop a 14,000 square metre residential site in Ha Dong district in Hanoi. Prime Minister Lee Hsien Loong and Vietnamese Prime Minister Nguyen Tan Dung witnessed the signing in Hanoi on Tuesday. CapitaLand...
Property developer CapitaLand said on Wednesday its high-end development, Urban Suites, saw good results in its recent preview sales. Under the first phase of the sale launched before Christmas, 60 of the 165 units were released to buyers who were prepared to purchase more than one unit. CapitaLand said all 60 units were sold at prices ranging from S$2,400 to S$2,700 per square foot. It plans to launch...
Singapore property developer CapitaLand has set ambitious targets for its China operations, as it marks 15 years of doing business on the mainland. It wants to double the number of its shopping malls and housing developments in China in the next five years. It is also looking to expand its service apartments business. CapitaLand is celebrating 15 years in China with a bang. It said China will continue to...
Singapore's CapitaLand will raise US$1.8 billion ($2.47 billion) through the IPO of its shopping malls unit, playing it safe on the pricing after some Asian IPOs faltered recently due to valuation concerns. CapitaMalls Asia's IPO has been priced at $2.12 a share, according to an issue prospectus, below the midpoint of an indicative range of $1.98-$2.39 a share. The conservative pricing is aimed at...