CapitaLand raises estimated cost of Abu Dhabi project

CapitaLand raises estimated cost of Abu Dhabi project
CapitaLand said its venture that’s developing a property project in Abu Dhabi expects to spend between 5 and 6 billion US dollars on the development
 
The estimated total development cost for the Arzanah project was revised to take into account the latest construction costs
 
In June last year, CapitaLand [...]

CapitaLand sells Somerset Orchard

CapitaLand sells Somerset Orchard
 
FOLLOWING asset sales in China and Malaysia, CapitaLand yesterday said it has sold the Somerset Orchard serviced residence to OG Pte Ltd for $100 million in cash.
 
The real estate group expects to book a gross gain of $43 million from the sale of the 88-unit block, which has acarrying value of $57 [...]

CapitaLand to sell Somerset Orchard for $100mil

CapitaLand to sell Somerset Orchard for $100mil
 
CapitaLand says its unit, The Ascott Group, plans to sell Somerset Orchard for 100 million dollars to OG Private Limited.
 
This works out to around 1530 dollars per square foot for the 88-unit serviced residence at Orchard Road.
 
The developer is expected to recognise a gross gain of about 43 [...]

CapitaLand sells Capital Tower Beijing for US$352m

CapitaLand sells Capital Tower Beijing for US$352m
 
SINGAPORE: Property developer CapitaLand is selling its Capital Tower Beijing office tower for US$352 million.
 
It declined to name the buyer, except to say it is a Fortune 500 company, which is looking to set up a corporate headquarters in Beijing.
 
CapitaLand intends to use the funds to reinvest [...]

Australand raises A$461mil through share entitlement offer

Australand raises A$461mil through share entitlement offer
 
CapitaLand’s Australian unit AustraLand said today that it raised about A$461 million through a share entitlement offer
 
The Sydney-based company sold 769 million new stapled securities in a non-underwritten 1-for-1 offer at 60 Australian cents each.
 
In a filing with the Singapore Exchange, Australand said it sold the stock to recapitalize [...]

CapitaLand to divest Malaysian firm Inverfin’s stake

CapitaLand to divest Malaysian firm Inverfin’s stake
 
CapitaLand said it has decided to sell its 30 percent stake in Malaysian company Inverfin to IO Corporation for 22.1 million dollars.
 
Inverfin’s principal asset is the 50 storey office tower, Menara Citibank, located in Kuala Lumpur.
 
In a statement, Capitaland Commercial’s CEO Wen Khai Meng said the sale [...]

CapitaLand to inject 4 integrated devts into Raffles City China fund

CapitaLand to inject 4 integrated devts into Raffles City China fund
 
SINGAPORE: CapitaLand is going to inject four of its Raffles City-branded integrated developments into its Raffles City China fund.
 
The US$1 billion real estate private equity fund will acquire CapitaLand’s 55.9 per cent stake in Raffles City Shanghai.
 
It will also take over 100 per [...]

Capitaland to inject 4 Raffles city developments into China fund

Capitaland to inject 4 Raffles city developments into China fund
CapitaLand plans to sell its interests in four Raffles City-branded integrated developments in China to its Raffles City China Fund for 1.1 billion dollars.
 
The assets, namely, Raffles City Shanghai, Raffles City Beijing, Raffles City Chengdu and Raffles City Hangzhou, will be injected into the 1.4 [...]

No rush to the high-end??

No rush to the high-end?? 
Mass market take-uprate still good despiteslowdown in luxury sector :
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THERE are still signs of life in the mass housing market, despite signs that the luxury sector is flattening out, according to the head of Singapore’s biggest developer.
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“The outlook for Singapore residential prices will probably be very flat,” saidMr [...]

CapitaLand’s Q2 profits fall 44% on-year

CapitaLand’s Q2 profits fall 44% on-year
 
SINGAPORE: CapitaLand, Southeast Asia’s biggest property developer, said on Friday second-quarter net profit fell 44 per cent from a year ago as revenue slumped due to slower sales from development projects in China.
 
The Singapore-based developer said in a statement it earned 515.25 million Singapore dollars (376.5 million US) in [...]