developers

50:50 cash and share mix for Ascendas-Singbridge most prudent: CapitaLand CEO

CapitaLand paying for Ascendas-Singbridge with a 50:50 mix of cash and shares avoids over-gearing the company or issuing stock at too steep of a discount, said CapitaLand's president and group CEO Lee Chee Koon. CapitaLand is buying Ascendas-Singbridge from Temasek Holdings in a deal worth S$11 billion, which includes debt owed by Ascendas-Singbridge and a S$6 billion consideration to parent company...

Developers re-issuing options amid cooling market, launch bonanza

Developers reported that they sold 602 private housing units in December - but the figure has turned out to be distorted because options for two-thirds of them were not exercised by the expiry date. Lapsed options or "returned units" may be gaining pace following the July cooling measures and new launches begin to pile up, some market players say. Typically, the holder of an option-to-purchase (OTP)...

CapitaLand’s S$11b buy is big, but will it be beautiful?

It will be big, but would it be beautiful? CapitaLand's S$11 billion proposed acquisition of from Temasek Holdings will place it among the top 10 real estate investment managers globally. It would not just elevate its global profile significantly but also result in a sizeable expansion and diversification. Assets under management (AUM) will hit S$116 billion across more than 30 countries from the...

CapitaLand to buy real estate group Ascendas-Singbridge from Temasek in S$11b deal

Singapore's CapitaLand is buying the owner of a clutch of real estate investment trusts from state investor Temasek in a deal valued at S$11 billion that the developer said will create the largest diversified property group in Asia. CapitaLand will buy the holding companies of the business of the Ascendas-Singbridge Group, which manages Ascendas Real Estate Investment Trust, Ascendas India Trust and...

Oxley selling Stevens Rd hotels for close to S$1b

Oxley Holdings has accepted a letter of intent (LOI) for the purchase of its Mercure and Novotel hotels along Stevens Road for S$950 million, in what market watchers call an urgent attempt by the developer to pare its debt. The Business Times understands that the buyer is Indonesian magnate Tahir. In a late announcement on Thursday, Oxley said the LOI is non-binding and subject to the parties...

GuocoLand’s Beach Road integrated project adds to area’s revamp

GuocoLand Limited today announced the groundbreaking of Guoco Midtown, unveiling the name of the prime site that is set to rejuvenate the Beach Road district. It will provide a new epicentre for this side of Singapore’s Central Business District (CBD). Guoco Midtown is expected to be completed by the first half of 2022. Nestled within the City Hall office micromarket, Guoco Midtown will be the final...

Property developers face new anti-money laundering, terrorism financing rules

The Government has put in place new anti-money laundering and terrorism financing requirements for property developers that will require them to perform due diligence checks on their buyers and flag suspicious activity. The new rules come after Parliament passed the Developers (Anti-Money Laundering and Terrorism Financing) Bill on Tuesday (Nov 20). The Bill amends both the Housing Developers...

CDL Q3 profit up 10.4%, says it’s ‘cognisant’ housing curbs will affect sales

City Developments Limited (CDL) said on Thursday (Nov 8) that its net profit rose 10.4 per cent in the third quarter and projected confidence in the market going forward, even as it cautioned against macroeconomic uncertainties and persistent headwinds for the Singapore residential property market. Net profit for the three months ended September rose to S$161.8 million from S$146.6 million in the same...

CapitaLand launches ‘office of the future’ ecosystem featuring core-flex model

CapitaLand today initiated its ‘office of the future’ strategy aimed at engendering a culture of innovation, promoting talent attraction and retention and optimising cost efficiency for tenants of its office properties. While coworking spaces currently aim to fulfil these objectives, they are typically standalone spaces targeted at a specific pool of tenants. CapitaLand’s ‘office of the future’...

Space was luxury then, small is trend now: SC Global

THE times they are a changin' - even for high-end home buyers. And luxe developer SC Global is rolling with it. The Simon Cheong vehicle, known for building "Mansions in the Sky" at The Marq, is now going small with its new collection, aptly named Petit Collectibles. The approximately 55-unit Petit Jervois in River Valley, the first project under this new brand, will be mostly one and two-bedders...

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