HONG KONG developer Cheung Kong Holdings is on the lookout for more residential and commercial sites to buy in Singapore, says executive director Justin Chiu. 'We are looking at a few pieces of land,' said Mr Chiu. 'The whole market (in Singapore) is moving. I am optimistic about the future.' Although land prices are high, Cheung Kong will 'keep looking for new land' as it is an 'investment in...
developers
Developer Sim Lian Land has clinched the tender for the residential site at Tampines Avenue 1 and Avenue 10. It submitted the top bid of S$302 million for the 3.2-hectare plot. The site with a 99-year lease had attracted a total of eight bids. The remaining bids range between S$168 million and S$289 million. The Urban Redevelopment Authority (URA) said it is the fourth residential site to be sold through...
A RESIDENTIAL site facing Bedok Reservoir that failed to be sold 18 months ago after attracting only one bid of $84.6 million is now sought after by eight developers, with one offering $302 million. The Tampines site was a victim of the financial meltdown when it closed for tender in August 2008, but the property market rebound has brought it back into favour. Sim Lian Land lodged the highest bid for the...
99-year plot may yield 600 units; consultants describe bids as sensible SIM Lian Land has emerged as the top bidder for a closely contested land parcel in Tampines. The developer led the field that included familiar names such as CapitaLand, Far East Organization, Frasers Centrepoint and MCL Land in a state land tender as demand for residential land continues to hold strong. Sim Lian bid $302 million...
Developer Sim Lian Land placed the top bid of S$302 million for the residential site at Tampines Avenue 1 & Avenue 10. The tender for the 3.2 hectare site with a lease of 99 years attracted a total of eight bids. The second highest bid of nearly S$288.99 million came from a joint venture of Far East Organisation and Frasers Centrepoint. That's followed by MCL Land's bid of about S$278.3...
CHIP Eng Seng Corporation has extended its footprint overseas with the purchase of a A$20.2 million (S$25.8 million) site in Melbourne. The deal is considerable when it is seen against the property and construction firm's net profit of $75.3 million for FY2009. The land parcel is located at Mackenzie Street, in the eastern part of Melbourne's central business district, and spans around 20,000 sq ft. Chip...
FOR the second year running, CapitaLand has paid a portion of staff bonuses in the form of shopping vouchers. About 700 managerial staff in Singapore will receive a total of $1 million worth of vouchers redeemable at CapitaMalls Asia (CMA) malls here. The value of the vouchers each staff member gets ranges from $750 to $10,000, depending on the size of the bonus. CapitaLand came up with this scheme last...
THE property market may still be sizzling, but at least one property developer here is offering a carrot which has not been seen in more than a year to entice buyers and boost sales. The incentive - stamp duty absorption - is usually deployed by nervous developers during market downturns, but is now on offer at the 360-unit Concourse Skyline on Beach Road. The deal, which can save homebuyers about 3per...
Mainboard-listed books retailer Popular Holdings said on Friday that its third quarter profit rose by 47.5 per cent to S$7.85 million. The increase came on the back of a 6.6 per cent improvement in turnover to S$147.2 million and a 70 per cent fall in its other operating expenses. For the third quarter ended in January, Popular said the biggest contributor to its result was its property development...
Mainboard-listed property developer Keppel Land on Friday said it has terminated its Vietnamese joint venture agreements with An Phu Corporation. It said the contracts were terminated because conditions were not fulfilled, without elaborating. Under the agreements signed in 2007, Keppel Land was to have developed condominiums in Ho Chi Minh City with An Phu. Keppel Land said the termination of the...