CAPITALAND will open eight malls in Asia in 2017 with almost one million square metres of gross floor area, the property developer announced on Thursday. Through wholly-owned CapitaLand Mall Asia, CapitaLand will open six malls in China, one in Malaysia and one in India. The first mall will open in the second quarter of 2017, and the last one in the fourth quarter. "As at Sept 30, 2016, 76 per cent...
developers
REAL estate developer Wheelock Properties posted a net profit of S$28.3 million for its third quarter ended Sept 30, 2016, up one and a half times from S$11.3 million a year ago. Revenue was up 82 per cent to S$152.6 million. Higher revenue was due to sales in Ardmore Three and The Panorama. This was partially offset by lower unit sales in Scotts Square and lower dividend and interest income from the...
MALAYSIAN plantation and real-estate tycoon Lee Shin Cheng has surprised the market with a bullish top bid of nearly S$2.57 billion or S$1,689 per square foot per plot ratio (psf ppr) for a white site in Central Boulevard. The bid from IOI Properties Group is the highest in absolute dollar quantum as well as by psf ppr for a Government Land Sale (GLS) site in Singapore. The tender drew seven bids. IOI's...
GUOCOLAND, controlled by Malaysian tycoon Quek Leng Chan, recently completed Guoco Tower - the office component of its integrated mixed-development project, Tanjong Pagar Centre, on a 99-year leasehold site above Tanjong Pagar MRT Station. The mainboard-listed property group has announced that 80 per cent of the 890,000 sq ft net lettable area of office space has been committed, that is either leased or...
HEETON Holdings has finally sold its entire interest in the completed iLiv@Grange project. This was through a sale of shares in a wholly-owned subsidiary of Heeton which in turn owns 100 per cent interest in the company that developed the 30-unit freehold project. The deal values the entire 16-storey project (on an en-bloc basis) at S$95 million, which works out to S$1,623 per square foot based on...
ROXY-PACIFIC Holdings has agreed to acquire a freehold residential site at Jalan Eunos for S$10.978 million, the developer announced on Wednesday after the market closed. The site, which comprises lots at 180, 182 and 184 Jalan Eunos, has an estimated total land area of 7,685 square feet and an existing gross plot ratio of 1.4 under the 2014 Master Plan. Roxy-Pacific, through wholly owned subsidiary RH...
Cheung Kong Property Holdings is open to selling its buildings in Hong Kong, Deputy Chairman Victor Li told analysts at a briefing Thursday. "I always look at deals, it's my job to look at deals, both purchases and sales," Mr Li said when asked if he would consider selling commercial buildings, according to a recordingof the briefing. "There is no deal that we must have, there is no property we must...
DEVELOPERS Sinarmas Land and KOP have agreed, through their subsidiaries, to develop parts of Nuvasa Bay, a high-end integrated residential and mixed-use development in Nongsa, Batam. Sinarmas Land's subsidiary PT AFP Dwilestari and KOP's subsidiary KOP Properties on Sunday signed a memorandum of understanding to develop various parts of Nuvasa Bay's beachfront and lagoon areas for landed houses,...
Faced with a looming November deadline to finish selling all its units in the completed Nouvel 18 condo project in a plush District 10 locale, City Developments Ltd (CDL) is racing to stitch together a profit participation securities (PPS) scheme for the project, BT understands. The deal, if it materialises, will see CDL's role in Summervale Properties, the company that developed the 156-unit freehold...
SC Global Developments Pte Ltd, a developer of upmarket residences, on Thursday unveiled an Enhanced Purchase Plan that allows prospective buyers of its Hilltops condominium to earn a 10 per cent return per annum on a 20 per cent downpayment - in what is believed to be the first such financing scheme in the market. Prospective buyers will be given a two-year option to purchase the units at a price that...