developers

Real estate firm Royal Group has raised its first sharia-compliant financing from RHB Bank Singapore for a S$300 million (US$220.8 million) property, helping widen the range of Islamic finance deals in Southeast Asia's main financial hub. Singapore has been promoting Islamic finance over the past decade, with the city-state issuing its first Islamic bond in 2009, aiming to attract religiously-minded...

Ho Bee Land announced on Sunday that it has acquired a freehold 21-storey Grade A office building in London, by purchasing its owner Frasia Properties Sàrl for £650 million (approximately S$1.16 billion). Registered in Luxembourg, Frasia Properties Sàrl owns the property known as Ropemaker Place, a 21-storey Grade A office building comprising approximately 602,000 square feet of commercial...

EL Development has signed a memorandum of understanding with Accor for the French hotel chain to manage a new hotel that the Singapore property developer will build in Hill Street. Accor will manage the hotel under its Pullman brand - this will be the first Pullman in Singapore, EL Development managing director Lim Yew Soon told The Business Times in a recent interview. "Singapore is one of the major...

Singtel is selling its Hill Street property to homegrown-property group EL Development. Planning approval has been granted for redevelopment of the site into a hotel. The price is between S$115 million and S$120 million, which works out to about S$1,830 per square foot per plot ratio, according to Business Times. The unit land price is inclusive of a differential premium to change the use of the...

ARMED with a war chest of more than S$3 billion and an improved balance sheet, City Developments (CDL) is poised to make acquisitions in Singapore and overseas, prompting some analysts to raise the target price for the property group. CDL is their preferred pick among property counters here for its asset monetisation ability, nimble capital management and acquisition potential. "We expect City...

HATTEN Land Limited said on Friday that it has entered into a non-binding memorandum of understanding (MOU) with the founding Tan brothers to acquire four land parcels and a company that owns development rights in Malaysia. Those targeted four plots of leasehold land in Melaka range from 2.05 acres to 66 acres (0.83 hectare to 26.7 hectares), of which two have obtained development order approval. The...

PROPERTY group Ho Bee Land has entered into a deal to sell Rose Court, an office block in Southwark, London to an unrelated Guernsey property unit trust for £94.5 million (S$167.5 million). The buyer has paid a deposit of 10 per cent of the sale price and the balance will be payable upon completion on Feb 21, 2017. The transaction is a cash purchase, Ho Bee said in a news release issued after the close...

PROPERTY developer Roxy-Pacific Holdings has agreed to acquire five adjoining two-storey shophouses on Upper Bukit Timah Road for S$17 million in total, it said in a Singapore Exchange filing on Tuesday. It said the shophouses made up a freehold residential site with an estimated total land area of 10,256 square feet and an existing plot ratio of 2.5 under Singapore's 2014 land use master plan. The...

IN a property market where heavyweights such as CapitaLand and City Developments are in the limelight, a relatively small company like Chip Eng Seng Corporation appears to have escaped the attention of most analysts. Although earnings in recent years have varied - from as low as S$57.2 million in 2015 to as high as S$280.7 million in 2014 - the group has been quietly putting its chess pieces in play and...

Despite seeing a challenging outlook ahead for the private residential market, many developers are still keen to replenish their land bank, albeit in a selective fashion. Sim Lian Group, which sold the most number of residential units among developers this year, is actively looking at both the government land sales (GLS) programme and enbloc properties to replenish its land bank, its executive director...