Keppel Land topped off its latest commercial project, the International Financial Centre Jakarta Tower Two, in Jakarta's Central Business District on Tuesday (Aug 18). The developer is seeking to grow its commercial portfolio in key Asian cities. Singapore and China remain its core markets, but the firm sees Indonesia and Vietnam as key growth areas. Mr Sam Moon Thong, President (Indonesia) of Keppel...
developers
Local property group Perennial Real Estate Holdings is making a foray into healthcare for the first time through a joint venture (JV) in China which plans to acquire and develop hospitals. Perennial will be investing S$63 million for a 40 per cent stake in the JV while the remaining 60 per cent will be held by Guangdong Boai Medical Group Co, a subsidiary of China Boai Medical Group (BOAI), a...
Developers of executive condominiums (ECs) are becoming more creative in their efforts to attract buyers amid softer market conditions. Some have introduced new types of facilities in their projects, while others are offering yoga, dance and baking classes. An upcoming EC in Sengkang, called The Vales EC, will offer two-storey villa units. They are a sprawling 159 square metres each and come with...
Real estate development firm Mapletree Investments has reported a 7.5 per cent increase in revenue to S$1.6 billion for the year ended Mar 31 (FY14/15), it announced on Wednesday (May 20). Part of the increase was due to new income streams including its acquisitions during the year, higher contributions from its flagship development in Singapore - Mapletree Business City - and positive contributions...
Property developers may incur up to S$90 million in extension charges for unsold units in their condo projects from April to December 2015, followed by S$238 million in 2016 if the health of Singapore's real estate market does not improve. This adds up to a staggering S$328 million that developers are expected to fork out in the worst-case scenario should they fail to sell any units by end-2016,...
City Developments (CDL) has booked a 2.8 per cent rise in net profit for the three months ended Mar 31, on the back of increased revenue from property development and hotel operations. The Singapore property developer's net attributable profit after tax and non-controlling interests was S$123 million in the first quarter, up from S$119.7 million in the same period a year ago. In a statement, City...
Property developer Frasers Centrepoint (FCL) will build a 16-storey hotel at China Square Central following an agreement that will see the developer pay Frasers Commercial Trust (FCOT) around S$44.8 million, FCOT announced on Monday (Apr 27). The hotel, with a gross floor area of 16,000 square metres and located near Cross Street, will be operated by Frasers Hospitality under the "Capri by Fraser"...
Perennial Real Estate Holdings Limited (PREH) announced on Tuesday (Apr 21) that it has entered into a joint venture to acquire a freehold waterfront site in Penang, Malaysia to be developed into a large-scale integrated mixed-use development. The 50-50 joint venture between the group’s Singapore-incorporated subsidiary Perennial Penang Pte Ltd and IJM Land Berhad will turn the site into what it...
Hotel Properties Limited (HPL) has invested in a 30 per cent stake in a venture that is buying two prime properties in Southbank, central London, for £308 million (S$627 million), as the Singapore-listed hotel landlord and property developer expands its footprint in the British capital. In a regulatory filing with the Singapore Exchange on Saturday, HPL said its indirect wholly-owned subsidiary, HPL...
Keppel Corp will extend the closing date of its offer to buy up the remaining shares of Keppel Land to March 26. The offer was due to expire on Thursday (Mar 12). As of Wednesday, Keppel Corp controls 80.8 per cent of the total number of issued shares. This is short of the 90 per cent level needed to take the property giant private. Earlier this year, Keppel Corp, the world's largest rig builder, offered...