Property developer Keppel Land has secured an option to develop a residential site in Vietnam's Ho Chi Minh City. The project is estimated to cost US$390 million. Keppel Land signed the agreement through its wholly-owned subsidiary Earlsbay Investments. Under the deal, the Singapore developer will hold a 60 percent stake, while local property developer Hong Quang takes on the remaining interest. The...
developers
Property developer CapitaLand is joining hands with Mubadala Development to invest in the property sector in Abu Dhabi. The two partners have launched a joint venture company called Capitala. They are pumping in US$300 million into the joint venture. Mubadala Development will hold a 51 percent stake, with CapitaLand holding the remaining 49 percent. Capitala will develop mainly residential properties in...
Analysts point to bad timing for developer in 3 en bloc attempts ONE construction and property development firm, troubled by the cooling property market and credit crisis, has left three en bloc sellers’ hopes of a cash windfall in shambles - and some analysts wondering if it is a victim of circumstances, or a player that bit off more than it could chew. Since April 1, Bravo Building Construction has...
En bloc sales have been slowing down over the past few months, but it’s not just due to the recent tightening of the rules governing such transactions. Amid the global credit crunch, property watchers said foreign investments have pulled back, and the overall downturn is pushing developers to look at other moneymaking options. But they also noted that fundamentals remain strong in Singapore, and the...
Singapore’s water agency, PUB, has formed an ABC Waters Review Panel to help developers incorporate water bodies into their projects. It was set up late last year together with the Urban Redevelopment Authority (URA) and the Law Ministry. The panel also has several high-profile local architects as members. Environment and Water Resources Minister, Dr Yaacob Ibrahim, revealed this at the launch of the...
CapitaLand has signed a deal with its Vietnamese partner Thien Duc to build about 1,400 homes in the prime District 2 of Ho Chi Minh City. The contract for the 6.7 hectare site includes commercial and retail space. The development, which is within a popular residential area, will have an estimated total project value of S$690 million. CapitaLand will take a 60 percent stake in the proposed joint venture,...
Gold Ridge has put in the top bid of nearly S$801 million for a white site at Serangoon Central. The price works out to S$850 per square foot per plot ratio for the 99-year leasehold site. This is 10 percent more than the next highest bid of S$727 million from Serangoon Community Developments. All in, the site attracted 6 bids, with the lowest by Peak Star at S$215 million. Analysts expect a full...
Increasing presence in emerging markets makes CapitaLand a good bet for investors. With Singapore’s property market cooling, analysts are looking at developers which have bought substantially into other promising places. To many, CapitaLand could be a good bet for investors. Analysts say the company’s diversified business portfolio and increasing presence in emerging markets, including Vietnam and...
Mainboard-listed Roxy-Pacific has nearly quadrupled its full-year net profit to S$19.3 million in its maiden results since going public. The specialty property and hospitality group is crediting this to the strong property market and robust tourism industry. Revenue more than doubled to about S$103 million. Looking ahead, Roxy-Pacific said it is optimistic about the Singapore property market and intends...
Billion Rise - a company believed to be linked to Hong Kong property giant Cheung Kong Holdings - has put in the top bid of S$110.4 million for a residential site at West Coast Crescent. This works out to S$305 per square foot per plot ratio for the 99-year leasehold parcel. Analysts expect a break-even price of between S$680 and S$720 per square foot for a new condominium on the site. The units are...