Heeton Holdings on Friday said its net profit for the six months ended June 30 plummeted 94 per cent to S$4.2 million due in part to losses from associated companies and higher operating expenses. The company reported a 40 per cent improvement in revenues to S$27 million, which it attributed to higher turnover from its property development segment and the sales of residential projects. Despite the weaker...
developers
Mass market take-up rate still good despite slowdown in luxury sector There are still signs of life in the mass housing market, despite signs that the luxury sector is flattening out, according to the head of Singapore’s biggest developer. “The outlook for Singapore residential prices will probably be very flat,” saidMr Liew Mun Leong, chief executive of CapitaLand. “The mass market take-up rate...
Niche property developer Soilbuild has put in the top bid of over S$13.6 million for an industrial site at Woodlands Industrial Park. This works out to S$30 per square foot per plot ratio. The site has a 60-year lease and can potentially yield a gross floor area of about 452,000 square feet of factory space. Consultants Colliers International said the top bid is in line with price expectations for sites...
Developer wants to build luxury homes and hotels across Asia and Europe FOLLOWING the launch of The Hamilton Scotts on Scotts Road, its developer Hayden Properties is now setting its sights on the region and beyond to develop and build similar ultra-luxurious homes. Hayden has an interesting mix of owners. It is 50-per-cent owned by KOP Capital, founded by 39-year-old lawyer Ong Chih Ching and Leny...
Southeast Asia's biggest property developer, CapitaLand, has set up a US$1 billion private equity fund to invest in mixed-use commercial properties in China. The size of the fund could be increased to US$1.3 billion by the end of this year. The Raffles City China Fund is the first for CapitaLand in China and also the largest in value it has ever managed. The fund will target prime mixed-use commercial...
Frasers Hospitality - the property arm of mainboard-listed Fraser & Neave - is planning to grow its presence in the emerging markets of China, India and Vietnam. Revealing this at a news briefing on Thursday, Frasers said it plans to add about 5,000 serviced apartment units to its portfolio over the next two years. It is scheduled to open 10 new properties this year, and another 25 over 2009 and...
Katong Mall has been sold in a collective transaction to property developer Tuan Sing Group for S$219 million. Including a premium of S$24.5 million to top up the site's lease, the price works out to about S$865 per square foot of gross floor area. The tender for the 99-year leasehold commercial development in the Marine Parade area was launched in May. Katong Mall, located at the junction of East Coast...
Property developer CapitaLand has acquired about 62 per cent of Sungei Wang Plaza, one of the most established retail malls in Kuala Lumpur. It paid about S$250 million for the purchase, which includes retail space and parking lots. Sungei Wang is a prime freehold property along the main Bukit Bintang shopping precinct in the Malaysian capital. The mall has close to 100 per cent occupancy and sees more...
CapitaLand said land prices in Vietnam and India have fallen by as much as 15 per cent this year, making it easier to get sites now than a year earlier. There may be more opportunities in “greenfield sites”, chief investment office Kee Teck Koon said at a property conference held here yesterday. CapitaLand is also looking at expanding in Japan, where it may acquire properties and set up funds for...
Foreign developers are upbeat about Singapore's property market, and despite signs of a slowdown, they see opportunities for growth. Although the government may be releasing fewer sites for sale under the Confirmed List, one of the largest property developers in Hong Kong is viewing the latest government land sales list with great interest. Cheung Kong Holdings is interested in the white site at Jurong...