Guoco Tower in Tanjong Pagar is Singapore’s tallest building
In today’s roundup of regional news headlines, Singapore-listed developer GuocoLand posts a profit jump despite falling revenue, Sydney-based data centre operator AirTrunk opens its Japan headquarters, and Hong Kong home prices near a record high after rising for a seventh month in a row.
GuocoLand Net Profit Up 48% Despite Dip in Revenue
Property developer GuocoLand posted a 48 percent year-on-year increase in net profit to S$169.1 million (now $125.2 million) for the full year ended June, despite a 9 percent fall in revenue.
Revenue for financial 2021 stood at S$853.7 million, down from S$934.8 million a year earlier, going by the interim financial statements released by the SGX-listed company on Thursday. Read more>>
AirTrunk Opens Japan Headquarters
Hyperscale data centre specialist AirTrunk announced the official opening of its Japan headquarters in Shibuya, Tokyo. The announcement precedes the opening of AirTrunk’s first hyperscale data centre in Japan, AirTrunk TOK1 in Inzai, set to be the largest in the country by megawatts.
AirTrunk founder and CEO Robin Khuda called the new office a critical step in AirTrunk’s expansion in Japan and the broader Asia-Pacific region as it grows its data centre platform to support rapid digital acceleration. Read more>>
Hong Kong Home Prices Rise for Seventh Month, Near Record High
Hong Kong private home prices rose 0.46 percent in July, official data showed on Friday, just short of a record high, supported by strong pent-up demand and hopes that mainland Chinese buyers will soon return.
The prices in one of the most expensive property markets gained for the seventh month in a row, according to last month’s data, compared with a revised 0.1 percent increase in June. Read more>>
Merlin Kicks Off Construction on Shenzhen LegoLand
Merlin Entertainments on Thursday began construction in China of a Legoland theme park and resort that it says will be the world’s largest.
The theme park resort on the Dapeng Peninsula, at the eastern edge of southern Chinese megacity Shenzhen, is set to occupy 580,000 square metres (over 6.2 million square feet) and will cost $1.08 billion to build. The park is due to open in 2024. Read more>>
Hong Kong Property Agency Warns on Emigration Impact
Midland Holdings, Hong Kong’s only listed property agency, said Thursday that a sustained wave of emigration could threaten the development of the city, its economic recovery and the housing market.
The agency reported a return to profit after a recovery in Hong Kong’s housing market. For the six months ended 30 June, net profit was HK$176 million ($22.6 million), compared with a loss of HK$24 million in the same period last year, according to a filing with the stock exchange. Read more>>
Henderson Sets Prices for Kai Tak Project
Henderson Land Development opened its first price list for The Henley III at Kai Tak, offering 81 units at an average price of HK$28,200 ($3,620) a square foot after discounts. The first batch’s price per square foot is the highest ever at Kai Tak.
The units cover studio flats to three-bedroom flats, ranging from 238 to 778 square feet (22 to 72 square metres). Henderson Land set the price at HK$6.583 million to HK$26.31 million and the price per square foot at HK$26,545 to HK$34,189. Read more>>
Wing Tai Holdings Profit Jumps 173% Amid Higher Revenue
Property and retail player Wing Tai Holdings reported a net profit of S$43.6 million (now $32.3 million) for the full year ended 30 June, a 173 percent jump compared with its previous financial year.
This came despite a net loss of S$13.2 million for the first six months of 2021. For the same half-year period in 2020, net loss amounted to S$16.8 million, according to the SGX-listed company’s full-year financial statement released Thursday. Read more>>
Conserved Singapore Building on the Market at $14M
With Jui Residences recently sold out, Malaysian developer Selangor Dredging Berhad is putting a conserved freehold commercial building, which is integrated with the residential development, up for sale at an indicative price tag of S$18.9 million ($14 million).
SDB purchased the parcel of land along Serangoon Road from National Aerated Water Company in December 2016 for S$47 million, though there were additional development charges to intensify the land use from industrial to residential. Read more>>
Tune in again soon for more real estate news and be sure to follow @Mingtiandi on Twitter, or bookmark Mingtiandi’s LinkedIn page for headlines as they happen.
Leave a Reply