Topic of Interest: #Developers (5,532 Articles Found)

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CapitaLand sets up $50m fund to spur sustainable innovations, help green its buildings

CapitaLand, one of Asia’s largest real estate groups, is setting up a $50 million fund over five years to encourage more innovation and to achieve its 2030 sustainability targets, which include greening all its buildings in Singapore and…

Low Keng Huat to sell Westgate Tower stake, buy 45% of Paya Lebar Square in shift to retail

Property player Low Keng Huat has entered agreements to sell its interests in Westgate Tower for S$97.1 million, while buying the remaining 45 per cent of Paya Lebar Square that it does not already own for S$90.5 million.…

Increased supply of private homes on confirmed sites a calibrated move as developers seek land

The bump in the supply of private housing on the Confirmed List under the H2 2021 GLS Programme is a calibrated move by the government – one that will nonetheless be welcomed by developers hungry to replenish their…

Safe management measures at project sales galleries relaxed from June 14

Under the Phase 3 Heightened Alert Safe Mgmt Measures (SMM) announced by MTF on June 10, existing SMM will be relaxed from 14 June 2021. The maximum capacity within developers’ project sales galleries and show units will be…

White site at Marina View triggered for sale at a minimum bid of $1.5 billion

An undisclosed real estate developer has triggered the release of the white site at Marina View for sale by tender. It is scheduled for launch on June 28, according to URA. The site is located near the Singapore…

Shun Tak makes a splash in its Singapore property debut, selling a duplex penthouse at Park Nova for a record US$26 million

Shun Tak Holdings, one of the flagship companies controlled by the clan that dominates Macau’s gambling industry, has smashed Singapore’s price record for luxury homes with its high-profile entry into the city state’s high-end property market. Park Nova,…

Goodland Group buys four shophouses on Serangoon Road for $16 mil

Goodland Group has entered into a SPA to acquire four freehold double-storey shophouses located on Serangoon Road for $16 million. The acquisition of the properties, located at 11375, 11377, 1379 and 13811 Serangoon Road, will be subject to…

Guoco Tower wins FIABCI World Prix d’Excellence Award

Guoco Tower has won the World Silver Winner in the office category at the 2021 FIABCI World Prix d’Excellence Awards. This marks the second consecutive year Guoco Tower had received accolades at the intl event. In 2020, it…

CGS-CIMB ups UOL Group’s TP to $8 on faster residential sales and new contributions from Ang Mo Kio site

CGS-CIMB Research analyst Lock Mun Yee has maintained “add” on UOL Group, which factors in faster residential sales as well as new contributions from the group’s Ang Mo Kio site, which was recently awarded to the group and…

Bukit Sembawang may offer Reit-like dividends as ‘land bank king’

Bukit Sembawang Estates has enough inventory to sell for the next decade, with the land the developer controls still pegged at “extremely low” historical cost valuation, said a fresh DBS Research report. This pipeline could give Bukit Sembawang…

UOB v Lippo Marina Collection lawsuit: Nothing improper about giving furniture rebates, says defence

A bitter legal battle between an Indonesian developer and UOB over claims that a conspiracy was hatched among buyers of units on Sentosa to inflate about $182 million of home loans is nearing its final act. The suit…

Developers, contractors battle labour crunch, supply shortage to meet deadlines

As Singapore’s construction industry grapples with a shortage of foreign workers, amid other headaches, further disruption to project timelines cannot be ruled out, construction firms said. Already, some construction companies allege their workers have been poached by other…

Lian Beng aims to stay conservative as pandemic hits construction sector

Construction company Lian Beng Group has been in business for close to 50 years, and has weathered several storms – including the Asian financial crisis, the Sars epidemic and the Lehman Brothers collapse. But chairman and MD Ong…

Lumiere finds new co-living operator, new landlords, new occupiers

Despite co-living operator Hmlet’s abrupt exit from Lumiere last Sept, Raymond Ng, founder of property development and investment company BS Capital, says: “I still believe that co-living works well.” That belief has been validated by the entry of…

Demand for residential property rises amid dwindling supply

The Singapore residential property market is currently like a pot of steel on a fire that is “boiling over”, describes Nicholas Mak, head of research and consultancy at ERA. “That fire is fuelled by economic growth, household income,…

First EC site in Tengah awarded for $400.32 million in new record

The first EC site in the “forest town” Tengah has been awarded to Taurus Properties SG for $400,318,000, HDB announced on Thurs. This translates to $603 psf ppr for the 99-year leasehold site – a record land rate…

Raising land supply may aggravate housing issues

Adjusting the ABSD remission deadline on GLS sites and allowing a change of use for hospitality properties may help reduce pressure on housing developers in the short run, amid the construction industry’s labour shortage. Those were the suggestions…

Boosting ventilation a challenge for some small business owners

Fashion retailer Goodluck Bunch is looking to improve ventilation at its store but cracking open the windows to let fresh air in is not the most convenient in the two-storey shophouse in Bali Lane. The windows can be…

Worldwide Hotels Group secures $405m green loan

Worldwide Hotels Group has acquired its first green loan amounting to $405m from Maybank. The loan will help develop the group’s new hotel and commercial development, 8 Club Street and is considered the biggest bilateral green financing for…

Keppel Land signs sustainability-linked, SORA-pegged loan with DBS

Keppel Land has signed its first sustainability-linked loan from DBS on June 1. The $150 million facility references SORA, making it the first such loan for the group. The facility’s interest rate comprises a compounded daily SORA rate…

Mapletree posts net profit of $1.9 bil for FY20/21

Mapletree Investments has reported a net profit of $1.85 billion for the FY2020/2021 ended Mar, which includes a one-off accounting gain from the deconsolidation of Mapletree Industrial Trust (MINT). The net profit represents a 4% y-o-y growth from…

UOL-led JV wins tender for Ang Mo Kio Ave 1 residential site from Urban Redevelopment Authority

UOL Group has announced that its subsidiary United Venture Development (2021) (UVD2021) has been awarded the tender for the residential site at Ang Mo Kio Ave 1 by URA at a tender price of $381.4 million. UVD2021 is…

OneApex purchases freehold industrial property at Kim Chuan Lane for $17 mil

Ember Properties, the associated company of OneApex Limited, has exercised an OTP a freehold industrial property on 7 Kim Chuan Lane for a consideration of $17 million. The property has a land size area of around 10,506 sqft…

KOP’s subsidiary sells Dalvey Haus unit for $16.3 mil

Dalvey Breeze Development, a 60%-owned subsidiary of KOP, has entered into an OTP to sell a unit of property in its development known as Dalvey Haus on June 1. The purchaser is Lee Yin Chuan, who is the…

Some major retail and all govt landlords in S’pore accept code of conduct on lease negotiations

At least eight major retail landlords from the private sector and all government landlords have committed to abide by a new code of conduct on the leasing of retail premises in Singapore. The code is aimed at making…

CGS-CIMB remains positive on Boustead Singapore for its geospatial division, attractive valuation

CGS-CIMB Research analyst Ong Khang Chuen has kept “add” on Boustead Singapore following the group’s record performance for the FY2021 ended Mar. The group’s net profit of $113.1 million stood slightly below Ong’s expectations at 96% of his…

JustCo signs agreement with Ho Bee Land to manage space at The Metropolis

JustCo has inked an agreement with Ho Bee Land to manage about 35,000 sqft of The Metropolis office space in Buona Vista. The JustCo-managed space, scheduled to open in the first quarter of 2022, will occupy two floors…

As developers brace for tighter margins, it’s time to rethink their traditional business models

The latest GLS tender closings point to a continuation of thin profit margins in the Singapore residential property development business. The tenders for a private condo plot along Ang Mo Kio Ave 1 and the maiden EC housing…

Is Singapore residential development a viable business?

Developers’ profit margins from Singapore private housing development projects have thinned with net margins for some private housing projects estimated to be around 10 per cent or less. While home prices are buoyant, increases in construction costs, land…

Keppel saves $68 million from energy-efficient initiatives

Green initiatives might seem a burden for companies already grappling with a challenging operating environment but they have paid off in spades for Keppel Group. Its energy-efficient measures saved an estimated 1,040,420 gigajoules of energy, translating to cost…

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