Mainboard-listed property investment firm Japan Land said Wednesday it has appointed Leow Tet Sin as managing director and member of the nominating committee of the company with effect from December 23. The appointment resolves a conflict of interest issue that has plagued the company since last month when Japan Land's independent director, lawyer and Tampines Member of Parliament Sin Boon Ann, resigned...
developers
Singapore-listed developer Yuexiu Property said on Tuesday that one of its units has acquired a plot of land in China for 544 million yuan or about S$112 million. It said its 95 per cent-owned subsidiary acquired the land in Guangdong's Zhongshan City last week through a public land auction. The plot of land has a permissible gross floor area of about 418,000 square metres and a site area of some 167,000...
Keppel Land has bought a site in northeast China for S$180 million. The purchase was made through its wholly-owned subsidiary Da Di Investment. The 30-hectare site is in Shenyang - the capital city of Liaoning province. Keppel Land plans to build a township on the site, which will comprise about 6,000 homes and some commercial developments. The project will be targeted at the upper-middle market. The...
Singapore property developer CapitaLand has set ambitious targets for its China operations, as it marks 15 years of doing business on the mainland. It wants to double the number of its shopping malls and housing developments in China in the next five years. It is also looking to expand its service apartments business. CapitaLand is celebrating 15 years in China with a bang. It said China will continue to...
Property developer and construction firm Low Keng Huat on Friday said its third-quarter net profit rose 28 per cent on-year to S$16.6 million. Revenue for the three months ended October 31 almost quadrupled to S$205 million, thanks mainly to significant increases in its construction revenue. Its third-quarter construction revenue had jumped more than four-fold year-on-year, due to completions of two...
Mainboard-listed Soilbuild Group has been appointed by Kolette, a subsidiary of CSC Holdings, to manage and market a S$51.7-million business space development project in Tuas. The development will consist of 70 single, double and three-storey high terrace factory units, ranging from 3,000 to 6,000 square feet each. Under the agreement with Kolette, Soilbuild will receive a portion of these units for...
Mapletree Investments has signed a Memorandum of Understanding (MOU) on a joint venture with Japan's ITOCHU Corporation to undertake "Build-to-Suit" development projects for logistics tenants in Japan. The companies agreed to extend their collaboration on investment and development of logistics, retail, industrial and commercial real estate projects in Japan, Singapore and the rest of Asia. The extension...
Dragon Mansion at 18 Spottiswoode Park Road has become the first successful en bloc sale in Singapore this year. The property was sold to a unit of Roxy-Pacific Holdings for S$100.8m including the development charge. That translates to about S$863 per square foot per plot ratio. CKS Property Consultants launched a tender for the site in July, after it obtained consent from more than 80 per cent of the...
Mainboard-listed property investment firm, Japan Land, said on Thursday that it remains committed to observing the requirements of the listing manual of the Singapore Exchange. The firm gave the assurance following news that one of its independent directors, lawyer and MP for Tampines GRC Sin Boon Ann resigned from the board. Mr Sin had quit as he was not satisfied with the firm’s control of its...
Singapore's CapitaLand will raise US$1.8 billion ($2.47 billion) through the IPO of its shopping malls unit, playing it safe on the pricing after some Asian IPOs faltered recently due to valuation concerns. CapitaMalls Asia's IPO has been priced at $2.12 a share, according to an issue prospectus, below the midpoint of an indicative range of $1.98-$2.39 a share. The conservative pricing is aimed at...