The Dairy Farm site could be redeveloped into 1,500 units
Singapore’s case of collective sales fever continues to grip the Southeast Asian financial hub, as yet another record-breaking housing site headed towards the market, with this one potentially yielding up to 1,500 homes. Also in the news this weekend, Dalian Wanda’s biggest cinema operator has won a deal to open a theatre in Saudi Arabia and a major mainland developer has redesigned a big Brisbane project. All these stories and more await you below.
Singapore’s Dairy Farm Site Heads Toward $1.3B Collective Sale
Another residential development that could smash the collective sale record currently held by Farrer Court is The Dairy Farm, if it obtains the requisite approval from owners and is successfully sold.
Owners of the freehold development – now comprising 477 residential units and 10 retail shops – are holding an extraordinary general meeting this Saturday to approve the terms of the collective sale agreement and method of apportionment on sale proceeds. Read more>>
R&F Announces New Plans for Brisbane Project
Chinese-backed residential developer R&F Property has announced plans for a seven-building West End apartment project.
The developer has entirely redrawn plans for the 1.6-hectare site which runs between Hockings and Donkin streets. Brisbane developer Pointcorp had previously received approval for a seven-building, 981-apartment development on the site. Read more>>
Red Star Macalline Planning $585M Share Buyback
China’s Red Star Macalline Group Corp Ltd said it plans to buy back HK$4.6 billion ($585 million) of its Hong Kong-listed shares to boost earnings per share and as it feels its stock price does not reflect its earnings performance.
The furniture store and shopping mall operator said it will offer HK$11.78 per share, a 17.6 percent premium to the previous close, to buy up to 388.92 million shares, or 9.9 percent of its total issued share capital. Read more>>
Wanda’s AMC Theatres to Open First Saudi Cinema Since the 70s
AMC Entertainment Holdings, controlled by China’s Dalian Wanda, was granted the first cinema license in Saudi Arabia and plans to open 100 theatres with the country’s Public Investment Fund.
AMC, the world’s largest exhibitor, and the Development & Investment Entertainment Co., a subsidiary of Saudi Arabia’s PIF, plan to open as many as 40 cinemas within five years and 60 more by 2030, according to a statement on Wednesday (April 4) from the Leawood, Kansas-based company. Read more>>
CapitaLand Announces Integrated E-Payment Partnership
CapitaLand is partnering leading e-payment players to launch an all-in-one e-payment service – dubbed StarPay – that will cover over 2,500 stores in 17 malls across Singapore.
The partnerships announced on Thursday will integrate five e-payment modes in StarPay: GrabPay, NETSPay, DBS PayLah!, American Express and Alipay. Read more>>
Tune in again tomorrow for more news, and be sure to follow @Mingtiandi on Twitter, or bookmark Mingtiandi’s LinkedIn page for headlines as they happen.
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