developers

Ho Bee Land has posted net profit of S$71.5 million for the second quarter ended June 30, up 98.1 per cent from the S$36.1 million net profit in the year-ago period. In a filing with the Singapore Exchange on Friday evening, the property group said that the stronger bottomline was on the back of recognition of a S$28.3 million fair value gain on investment property. This arose from the group completing...

The group chief executive of City Developments Ltd (CDL), Sherman Kwek, says the impact of the property cooling measures rolled out last month will be rather different from that in the 2010-to-early-2013 period. Despite successive rounds of cooling measures being rolled out during those years, private home buyers managed to get round the negativity and continue pushing on, he recalled. Developers...

City Developments Limited’s (CDL) second-quarter net profit soared 79.5 per cent from a year ago, on the back of strong sales. The property developer on Wednesday (Aug 8) posted a net profit of S$204.8 million, up from S$114.1 million in the same period a year ago. The rise came alongside an almost 60 per cent increase in revenue for the quarter to S$1.36 billion, compared with S$854 million last...

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)...

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...

The halting of an en bloc purchase by Tee Land reflects the turn in sentiment among property developers in Singapore who have begun redoing their sums on the back of the latest cooling measures, industry observers told Channel NewsAsia. This cautious approach is especially the case for smaller players that may not have the same financial muscle as their bigger rivals, they added. However, while the...

Tee Land has decided not to exercise its option to purchase Teck Guan Ville in what was originally a S$60 million collective sale due to the latest round of cooling measures. Tee Land will forfeit its 1 per cent deposit. The company cited the "impact on market sentiment and purchasers' interest" following the government's announcement on July 5. Tee Land "has decided to adopt a more prudent and...

Far East Organization, which acquired the first six levels of the former AA Centre in River Valley Road in 2013, is buying 27 of the 28 residential units on the upper floors of the freehold 14-storey building. Far East is paying a total of S$124.10 million for the bulk purchase of the 27 units - 23 apartments and four penthouses. This works out an average price of S$2,574 per square foot based on the...

A unit of Hong Kong-based developer Wheelock and Co said on Thursday (Jul 19) it had launched an offer for all the shares of Singapore-listed subsidiary Wheelock Properties Singapore at S$2.10 each. Star Attraction, a wholly owned indirect subsidiary of Wheelock and Co, said the voluntary unconditional general offer would allow Wheelock Property shareholders to realise their investment entirely in cash...

Despite the government's recent cooling measures, Koh Brothers Group's managing director and chief executive, Francis Koh, will still tender for one or two more mass market sites in Singapore to balance out his slate of Holland Village projects. "There may be an opportunity although the market may see it as a negative thing and there's a knee-jerk reaction," he says. "But we think we can price in the...