Yanlord Land Group has raised its cash offer for United Engineers (UE) to S$2.70 per share, after scooping up 39.2 million shares or 6.15 per cent of UE in married trades done at the same price just before noon on Tuesday. The Business Times understands that the sellers are likely to be multiple accounts aggregated by a broker. Oxley Holdings, the only other shareholder in UE with a sizeable block of...
Yanlord Land
China-based property developer Yanlord Land Group on Friday morning launched fresh mandatory offers for United Engineers (UE), in a deal valuing the latter at S$1.66 billion. Yanlord's wholly-owned subsidiary Yanlord Investment (Singapore) (YIS) is offering to acquire the ordinary and preference shares in the property, engineering and construction group at S$2.60 apiece in cash. This is the same as...
SGX-listed Yanlord Land Group announced on Monday that it has sold 58.4 per cent, or 181 out of its 310 apartment units, at its inaugural launch of Yanlord Riverside Gardens in Tianjin, China. Yanlord Riverside Gardens is the group's second international community development in Tianjin and contracted a total of 572 million yuan in pre-sales. The real estate developer said that despite market...
Yanlord Land Group, the real-estate developer focused on developing high-end integrated commercial and residential property projects in high-growth cities in China, says net profit for the period from 1st January to 30th September 2010 (9M 2010) rose 10.5% to $228.7 million from $207.0 million in 9M 2009. Recognised revenue in 9M 2010 was lower at $1,322.5 million compared to $1,385.6 million in 9M 2009...
Yanlord Land Group has acquired a residential development site in Shanghai for about 2.89 billion yuan ($568 million), the Singapore listed developer said yesterday in a filing with the stock exchange. The land, which was acquired in a public auction, is in Tangzhen New District in Shanghai's Pudong and has a total planned gross floor area of about 179,944 sq m, Yanlord said. The winning bid translates to...
Building houses is a profitable business in China - something the Yanlord Land Group knows all too well. But the property giant did not start off in real estate. When it first set up shop in Singapore in the 80s, it focused mainly on trading and manufacturing. With China as its main market, Yanlord soon found it hard to compete against local rivals. But it was quick to spot another golden opportunity...
Singapore, which boasts the world's highest density of millionaires, has been attracting foreign entrepreneurs. Yanlord Land Group founder and CEO Zhong Sheng Jian, originally from China, said coming to Singapore was the best decision he has ever made. Yanlord Land Group is the biggest China-based property developer listed in Singapore. "I can say that my success is built on the experience I've acquired...
Yanlord Land Group and Ho Bee Investment have acquired six prime residential development sites for 504.6 million yuan or S$102.9 million in Hebei's Tangshan Nanhu Eco-City in China. This works out to an average purchase price of 1,302 yuan or S$265.6 per square metres. The purchase was made through their new joint venture company Yanlord Ho Bee Investments. In a statement, Yanlord Ho Bee said the sites...
China's recent steps to cool its property market have taken the shine off China-linked property counters in Singapore, with analysts seeing limited upside for many stocks. For now, experts prefer property stocks with more Singapore-based portfolios. They said these currently offer more potential growth, thanks to exposure to hot sectors like residential and hospitality. China has been clamping down on...
Mainboard-listed Chinese property developer Yanlord Land has booked a 16 per cent drop in fourth quarter net profit to S$118.4 million. This came on the back of a 48 per cent fall in revenue to S$214 million. Yanlord said the decline in fourth quarter revenue was due to a decrease in gross floor area delivered. For all of 2009, net profit rose 44 per cent to S$325.3 million. Yanlord is proposing a...