MCL Land

URA awards of tender for residential site at Boon Lay Way

The Urban Redevelopment Authority (URA) has awarded the tender for the residential site at Boon Lay Way (Jurong Gateway) to MCL Land Limited. MCL Land Limited submitted the highest bid in the tender for the site at S$369.388 million (S$7,589.64 per square meter of GFA). The next highest was by EL Development Pte Ltd at $369.1 million. The 11,588 m2 site was offered for sale on a 99-year lease. The...

Pasir Ris residential site awarded to MCL Land

The Urban Redevelopment Authority on Thursday awarded a residential site at the junction of Jalan Loyang Besar and Pasir Ris Drive 4 to MCL Land, which submitted the top bid of S$246.1 million at the close of tender on Tuesday. There were only three bids submitted, with observers saying this was because developers were concerned over potential competition from projects at nearby sites, including those at...

Hongkong Land exit offer to MCL shareholders now “unconditional”

Mainboard-listed Hongkong Land said its exit offer to shareholders of takeover target MCL Land is now 'unconditional'. This follows the passing of a resolution at MCL's extraordinary general meeting on Tuesday to approve the proposed voluntary delisting of MCL Land from the Singapore Exchange. For stockholders who have already accepted the exit offer of S$2.45 per stock unit, payment will be made by...

MCL Land’s Q3 net profit up 28% to US$172m

Mainboard-listed MCL Land said its third quarter net profit rose 28 per cent to US$172 million despite a 14 per cent decline in revenue to US$362 million. The developer said its profit rose due to the recognition of sales on the completion of two developments - Waterfall Gardens and D'Pavilion. The results also included a US$51 million reversal of a write-down on The Estuary development. The group added...

MCL soars after HK Land offer to take developer private

Shares of residential property developer MCL Land jumped 25.6 per cent to close at $2.45 on Friday, a day after parent company Hongkong Land said it planned to delist the counter from the Singapore Exchange. Dealers said the rise in share price was expected as investors moved in to narrow the gap between its last traded price and the offer price of $2.45 by Hongkong Land to take the firm private. Around...

Hongkong Land announces delisting, exit offer for MCL Land

Hongkong Land on Thursday said it wants to acquire all the remaining shares that it does not already own in MCL Land and delist it from the Singapore Exchange. The exit offer is at a total cost of S$205 million, or S$2.45 per share. HongKong Land currently owns 77.4 per cent of MCL Land through its subsidiary, HKL MCL. The company said it will fund the proposed acquisition from existing cash...

URA closed tender for Hougang Ave 2 site with highest bid of S$207.5m

The Hougang Avenue 2 residential site has attracted the highest bid of S$207.5 million from MCL Land at the closing of its public tender by the Urban Redevelopment Authority. The bid works out to S$456 per square foot per plot ratio. This is 9.6 per cent higher than the second highest bid of S$189.3 million submitted by Frasers Centrepoint. The site has attracted a total of seven bids, with the...

MCL Land’s Q1 profit jumps to US$48.7m

Mainboard-listed MCL Land said its first quarter net profit jumped to US$48.7 million (S$46.6 million) for the period ended March 31. This compared to net profit of US$1.4 million posted in the same quarter a year ago. The higher profit is due to the write back of an impairment charge of US$51 million for The Estuary, a condominium project. Meanwhile, the company continues to carry an impairment charge...

HDB releases 2 land parcels under Reserve List for condominium development

The Housing and Development Board is releasing two parcels of land for condominium housing under the Reserve List of the Government Land Sales programme.One of them, at Jurong West Street 42, is for executive condominium housing, while the other at Chestnut Avenue is for private apartments. Among the two sites, the one at Chestnut Avenue is expected to get more attention from developers. Analysts said this...

Compare listings

Compare