CAPITACOMMERCIAL Trust, the office landlord run by CapitaLand, will pay investors 23 per cent more in dividends for the second quarter, as it earned more rental income. Shareholders will receive $36.1 million, or 2.6 cents a share, for the three months ended June 30, from 2.12 cents a year earlier. CapitaCommercial also expects to post higher income for the rest of the year, as it increases rents on...
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Pritzker Prize-winning architect to design new $3-billion development WHEN 31-year-old Farrer Court is demolished over the coming months, its replacement will be a “curvaceous” condominium that is set to dominate the skyline of District 10 and clock several firsts. Giving the media a sneak peek yesterday, a CapitaLand-led consortium gave hints of how it planned to transform the site of Singapore’s...
CapitaLand intends to build an estimated 1,500 mid to high-end homes in prime District 10 on a site that currently houses the Farrer Court estate. The developer and its partners bought the site off Farrer Road in a collective sale last June for some S$1.34 billion. Revealing plans for the project on Thursday, CapitaLand said the new development will have seven blocks of 36-storeys each, with mainly two,...
Southeast Asia's biggest property developer, CapitaLand, has set up a US$1 billion private equity fund to invest in mixed-use commercial properties in China. The size of the fund could be increased to US$1.3 billion by the end of this year. The Raffles City China Fund is the first for CapitaLand in China and also the largest in value it has ever managed. The fund will target prime mixed-use commercial...
Property developer CapitaLand has acquired about 62 per cent of Sungei Wang Plaza, one of the most established retail malls in Kuala Lumpur. It paid about S$250 million for the purchase, which includes retail space and parking lots. Sungei Wang is a prime freehold property along the main Bukit Bintang shopping precinct in the Malaysian capital. The mall has close to 100 per cent occupancy and sees more...
CapitaLand said land prices in Vietnam and India have fallen by as much as 15 per cent this year, making it easier to get sites now than a year earlier. There may be more opportunities in “greenfield sites”, chief investment office Kee Teck Koon said at a property conference held here yesterday. CapitaLand is also looking at expanding in Japan, where it may acquire properties and set up funds for...
CapitaLand and CITIC Trust, China's largest trust company, have launched the first renminbi-denominated real estate private equity fund in China. The 500 million renminbi fund will invest in business parks in China. It will be jointly managed by CITIC Trust and CapitaLand. CapitaLand has 50 per cent sponsor stake, while local Chinese investors - comprising corporate investors and high net worth...
Four companies were recognised for their eco-friendly practices at the second Singapore Green Summit on Wednesday. National Development Minister Mah Bow Tan, speaking at the summit, urged companies to put in place more energy-efficient practices. The Grand Hyatt is one of the award winners. The 37-year-old hotel undertook a range of green initiatives - recycling water for its laundry service, installing...
CapitaLand has launched a new programme to encourage more people to adopt a green lifestyle. Called “Building a Greener Future”, the programme features a range of environmental-friendly initiatives. For a start, 100,000 re-usable shopping bags will be given out to shoppers through tenants at the 11 CapitaLand Malls. The bags come with a loyalty programme that rewards shoppers for using the bags,...
Property developer CapitaLand has completed the compulsory acquisition of the Ascott Group, a serviced-apartments operator. From 28 April, Ascott becomes an indirect wholly-owned subsidiary of the company. It will be delisted from the Singapore Exchange with effect from 29 April. CapitaLand said the privatised Ascott will enhance the company's competitive advantage of having a fully integrated real...