CITY Developments Limited (CDL) has increased its shareholding interest in Summervale Properties from 50 per cent to 100 per cent, after its wholly-owned subsidiary, Sunmaster Holdings, completed the acquisition from Wing Tai Land (WTL) for S$410.96 million. Both CDL and WTL had considered various ways to optimise their interests in Summervale, which is the owner and developer of Nouvel 18, a prime...
developers
CAPITALAND announced on Wednesday the setting up of a venture fund, C31 Ventures, to tap global tech startups as part of its ongoing effort to innovate and build real estate of the future. The Singapore-listed real estate group said it is prepared to eventually invest up to S$100 million as it seeks compelling investment opportunities beyond Singapore. C31 Ventures targets startup companies that fit...
BT recently reported that Singapore-listed City Developments Ltd (CDL) may be at the preliminary stages of exploring the possibility of carrying out a third profit participation securities (PPS) exercise - this time for a portfolio of 48 apartments in three of the property developer's completed projects in Singapore's Core Central Region. It is interesting to look at the merits of this latest exercise...
CITY Developments Ltd (CDL) has said that the anticipated pricing for a potential residential profit participation securities (PPS) transaction will be "much higher" than the S$2,300 per square foot (psf) cited in a report in The Business Times on Friday, "given the intrinsic value of our assets". Responding to the report, the property developer added that it would make further announcements if and when...
CITY Developments Ltd (CDL) is said to be attempting its third profit participation securities (PPS) structure, this time involving a portfolio of 48 apartments in three projects in the Core Central Region completed earlier. The potential deal is seen as the latest instalment of the group's capital-recycling strategy. The 48 apartments - at Cliveden at Grange, St Regis Residences Singapore and One...
City Developments Limited (CDL) may have placed great effort in recent years to grow its global footprint — from the appointment of an Australian as its very first CEO to rapid overseas expansion — but the listed homegrown property unit of diversified Hong Leong Group still very much wishes to remain Singaporean. The Republic, said CEO Grant Kelley, could be the company’s “hidden upside” when...
REGIONAL property developer Wing Tai Holdings saw its takings hit by slowing sales of its property units. Its revenue for the third quarter was down 35 per cent to S$113.0 million, from S$174.1 million a year ago. Revenue for the nine-month period ended March 31, 2016, was down 12 per cent to S$403.8 million, from S$460.8 million the year before. Wing Tai said the revenue for the period was mainly...
Developers for commercial buildings and schools will have to submit a Walking and Cycling Plan (WCP) from July 2016, said the Land Transport Authority (LTA) and the Urban Redevelopment Authority (URA) on Tuesday (May 3). The WCP will apply to commercial developments, such as shopping complexes, offices, business parks, as well as schools, they added in a press release. This new requirement is so...
PARK Gallery, a townhouse development located at Cova on Australia's Hope Island, is sold out, Frasers Property announced on Wednesday. Since launching in November, Frasers Property Australia, the Australian division of Frasers Centrepoint Limited, has achieved more than A$28 million (S$28.9 million) from the sales of 60 townhouses at Park Gallery. The 60 "architecturally designed" Park Gallery...
WHILE skyrocketing property prices in top Chinese cities have prompted China to rein in the rage, Singapore developers with substantial exposure to these cities remain unfazed. Many are still bullish about their prospects in China and are looking to raise their exposure further. Yet, they are keeping close tabs on market conditions when it comes to timing residential launches. CapitaLand China CEO...