Keppel Land

Keppel Land China secures Shanghai site for S$241m

The property arm of Keppel Group in China has secured a 7.2-hectare site in Shanghai's Jiading District for S$241 million to develop around 1,000 high-rise apartments. The acquisition of the site at Nanxiang Town marks Keppel Land China's fifth residential development in Shanghai, a news release said. The deal was completed through two subsidiaries of the Keppel Land Group, namely Merryfield Investment...

Keppel Land achieves 45.5% growth in Q1 net profit

Keppel Land said it achieved a 45.5 per cent growth in its first-quarter net profit, thanks to higher contributions from property trading and a chunky divestment gain. The Republic's third-largest property developer said it earned S$92.1 million in the January-March period, up from S$63.3 million made in the first quarter of the previous year. Property trading recorded an 8.2 per cent increase in net...

Alpha Investment Partners, NTUC Income to acquire Capital Square

Alpha Investment Partners Limited (AIP) - which is the property fund management arm of Keppel Land - and NTUC Income have agreed to jointly acquire Capital Square for S$889 million. Under the deal, Alpha Investment Partners will buy over a 50 per cent stake through its Macro Trends Fund. NTUC Income will hold the other 50 per cent. Alpha Investment Partners will be the asset manager upon completion of...

Keppel Land wins Sengkang residential tender

Property developer Keppel Land has been awarded a residential site tender to build up to 630 dwelling units in Sengkang. These units range between 450 square feet and 2,200 square feet in one-to-four-bedroom configurations, as well as penthouses. Keppel Land had submitted the highest bid for the Condominium housing development at about S$286.8 million. The developer said in a statement today that the...

Keppel Land’s profit at record S$1.05b

Keppel Land achieved a record net profit of S$1.05 billion last year, up 273 per cent from the previous year, despite lower turnover. The stellar performance was mainly due to the S$363.8 million gain from the sale of its one-third interest in Marina Bay Financial Centre Phase 1, as well as fair value gains on investment properties, the company said. Excluding fair value gain on investment properties or...

Keppel Land China expands portfolio

Keppel Land has secured a 17.2 hectare site within the main city of Nantong, Jiangsu province in China, for S$202 million. The lakefront residential development will be Keppel Land China's first property development in Nantong. Keppel plans to target the high income segment for the development, which will comprise about 1,000 homes. The first phase is expected to be launched in the first half of...

Keppel Land to book larger profit from Marina Bay divestment

Keppel Land expects to book a larger profit of about S$394 million from its Marina Bay divestment, following a positive advance ruling from the tax authorities. In a filing on the Singapore Exchange, the developer said that the Inland Revenue Authority of Singapore has confirmed it would treat the divestment as capital gain, which is not taxable. This means that Keppel's profit from the divestment will...

Keppel Land to issue bonds worth S$500m

Keppel Land said on Tuesday it would issue 500 million dollars worth of unsecured convertible bonds. The Singapore-dollar denominated bonds will pay interest at the rate of 1.875 per cent per annum, payable semi-annually in arrears. The bonds, which have a term of five years, will be convertible into new ordinary shares at an initial conversion price of 6.72 dollars apiece. The initial conversion price...

Keppel Land acquires additional stake in Ocean Properties

Keppel Land is acquiring an additional 11.85 per cent stake in Ocean Properties for S$107.1 million, through its wholly-owned subsidiary Straits Property Investments. This will increase Keppel Land's current stake in Ocean Properties to 87.51 per cent. Straits Property acquired the additional stake from HSBC, an existing shareholder of Ocean Properties. Ocean Properties is a Singaporean property...

Over 90% of Keppel Land’s Seasons Park units in Tianjin Eco-City sold

Property developer Keppel Land has sold more than 90 per cent of the 220 units released during the soft launch of its Seasons Park residential development in the Sino-Singapore Tianjin Eco-City. Seasons Park, comprising a total of 1,672 residences, is the first collection of eco-homes to be launched in the Keppel development in China. The average price achieved was about 11,000 renminbi or S$2,124 per...

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