Guocoland

GuocoLand Limited today announced the groundbreaking of Guoco Midtown, unveiling the name of the prime site that is set to rejuvenate the Beach Road district. It will provide a new epicentre for this side of Singapore’s Central Business District (CBD). Guoco Midtown is expected to be completed by the first half of 2022. Nestled within the City Hall office micromarket, Guoco Midtown will be the final...

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...

Singapore-listed developer GuocoLand is selling a large development project in Beijing for RMB10.5 billion (S$2.3 billion), in a deal that is expected to generate a net gain of RMB1.58 billion. The sale of the Dongzhimen (DZM) mixed-use development to China Cinda Asset Management provides an opportunity for GuocoLand to realise the development's capital value, the developer said in a stock marketing...

They should be more calibrated, rather than one-size-fits-all: Developer Property developer GuocoLand, the Singapore-listed firm controlled by Malaysian billionaire Quek Leng Chan, would like to see a more calibrated approach to property cooling measures by the Government rather than a one-size-fits-all approach. Said its newly-appointed Chief Operating Officer, Mr Cheng Hsing Yao: “In a global...

Property developer Guoco-Land's latest Tanjong Pagar project (Tanjong Pagar Centre) holds new promise for the fading business district, overshadowed by the Marina Bay area's swanky Marina Bay Financial Centre. GuocoLand's S$3 billion project along Peck Seah Street and Choon Guan Street will have over 500,000 sq ft of residential space and more than one million sq ft of office space. Analysts expect keen...

Property developer GuocoLand Ltd said it currently has no plans to launch a real estate investment trust (REIT). GuocoLand, led by Malaysian tycoon Quek Leng Chan, made the statement in response to an article in the Business Times newspaper which said the developer was planning to start two REITs that would hold assets of between S$6 billion and S$8 billion in Singapore, China, Malaysia and Vietnam. The...

Singapore-listed developer GuocoLand has won the tender for a “white” site located above Tanjong Pagar MRT Station, offering the highest bid of $1.708 billion or $1,006 psf ppr among the six bidders. GuocoLand, owned by Malaysian tycoon Quek Leng Chan, plans to develop the tallest residences in Singapore, with up to 78 storeys, in a $3 billion mixed development project. The company is required to set...

Mainboard-listed developer Guocoland on Friday said its net profit rose 9 per cent on-year to S$13.4 million in the first quarter ended September 30. This is compared to S$12.4 million for the same period last year. Revenue for the three months ended September grew 15 per cent to S$109.9 million. This is largely due to progress in the construction of development projects such as Goodwood Residence,...

Real estate developer GuocoLand said on Friday that it would launch a 1-for-3 rights issue to raise about $532.5 million to strengthen its capital base and fund expansion. The company will sell 296 million shares at $1.80 apiece, a discount of approximately 15.9 per cent from the shares' closing price of $2.14 on Thursday, the last trading day before the announcement. "The company is raising capital as...

Property group GuocoLand said it has recorded profits of S$134.3 million for the full year ended June. This overturns a loss of S$70.2 million in the previous financial year. Meanwhile the company posted its group revenue of S$732.7 million for the same period. This is a 43 per cent increase on-year. The company said the increase was mainly due to recognition of profit from strong sales in...