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CapitaLand buys prime residential site in Ho Chi Minh City

CapitaLand has bought a 60,732 square metre prime residential site in Ho Chi Minh City, Vietnam, for 1.38 trillion Vietnamese dong (S$81.4 million) in cash, the property developer said on Thursday (Aug 30) during the midday trading break. Under the deal, CapitaLand's wholly owned subsidiaries CVH Sparrow, CLV Investment 2 and CLV Investment have acquired 100 per cent of the charter capital of BCLand...

CapitaLand Mall Trust buys 70% interest in Westgate for S$789.6m

Property developer CapitaLand on Monday said that it has agreed to sell to CapitaLand Mall Trust (CMT) its 70 per cent stake in Westgate – the retail component of an integrated retail and office development in Jurong - for S$789.6 million. This values a full 100 per cent stake in the development at S$1.128 billion, and translates to S$2,746 per square foot (psf). The sale will generate for...

CapitaLand-CDL tie-up win Sengkang Central bid

A CapitaLand and City Developments Ltd (CDL) tie-up has clinched a commercial and residential site in Sengkang Central. Their winning bid of S$777.78 million works out to S$923.59 per square foot per plot ratio (psf ppr) for the 99-year leasehold site next to Buangkok MRT Station. In a joint release on Thursday evening, CapitaLand and CDL said their joint venture will transform the 3.7-hectare site –...

CapitaLand wins bid to acquire 2 prime residential sites in Guangzhou

CapitaLand has won its bid to acquire two prime residential sites in Guangzhou, China, for 2.05 billion yuan (S$409 million). Announced yesterday, the two sites in the Zengcheng district occupy 150,000 sq m of land, and could allow the developer to build up to 1,300 homes by 2021 aimed at first-time home buyers and upgraders, CapitaLand said. Zengcheng, where prominent companies such as Foxconn and...

CapitaLand Q2 net profit up 4.4% to S$605 million

Singapore developer CapitaLand's second-quarter net profit rose 4.4 per cent from a year ago to S$605 million, boosted by contributions from newly acquired investment properties in Singapore, China and Germany as well as revaluation gains. These were partially offset by lower portfolio gains and contribution from the group's residential business, CapitaLand said in a statement on Wednesday (Aug 8)...

Latest property-cooling measures may present buying opportunities: CapitaLand CEO

Singapore's latest round of property curbs are probably enough to cool the market, and may present buying opportunities, the head of the Republic's biggest developer said. "With the recent property curbs, we see new situations, new opportunities arising," CapitaLand chief executive Lim Ming Yan said in a Bloomberg Television interview on Wednesday (Aug 8). The Republic took additional steps to reign...

CapitaLand offloads The Nassim

CAPITALAND on Monday said it has sold its 100 per cent stake in Nassim Hill Realty (NHR) to an unrelated private company, Kheng Leong, for S$411.6 million. Included in the sale are also 45 unsold units in The Nassim, a luxury freehold boutique condominium project in Nassim Hill which has sold only 10 units since 2015. CapitaLand said it is doing this to avoid paying extension charges which would kick...

CapitaLand to open 8 malls in 2017

CAPITALAND will open eight malls in Asia in 2017 with almost one million square metres of gross floor area, the property developer announced on Thursday. Through wholly-owned CapitaLand Mall Asia, CapitaLand will open six malls in China, one in Malaysia and one in India. The first mall will open in the second quarter of 2017, and the last one in the fourth quarter. "As at Sept 30, 2016, 76 per cent...

CapitaLand to pump up to S$100m into fund for global tech start-ups

CAPITALAND announced on Wednesday the setting up of a venture fund, C31 Ventures, to tap global tech startups as part of its ongoing effort to innovate and build real estate of the future. The Singapore-listed real estate group said it is prepared to eventually invest up to S$100 million as it seeks compelling investment opportunities beyond Singapore. C31 Ventures targets startup companies that fit...

CapitaLand pilots innovation at HQ to test-bed ‘office of the future’

CapitaLand has partnered with Singapore's coworking space pioneer Collective Works to transform the 12th storey of Capital Tower - its headquarters - into a premium coworking space, as part of its pilot initiatives to test-bed alternative workspaces. In what is a first for a Grade A office building and a landmark deal in the coworking sector, the joint initiative aims to shape the future of office...

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