Investors eager for Singapore’s largest non–government controlled developer to announce its 2024 financials on Wednesday received more excitement than expected when the executive chairman and chief executive officer of City Developments Ltd issued separate statements regarding an alleged struggle for… Read More>>
GuocoLand-Hong Leong JV Sole Bidders as Singapore Site Draws $367M Record Low Offer
A joint venture between Malaysia’s GuocoLand and its Singapore cousins at Hong Leong Holdings placed the sole bid in a government tender for a residential plot in the northern part of Singapore’s Ang Mo Kio area, with the low-ball S$486.8… Read More>>
Singapore Developers Welcome S$48.5B COVID-19 Relief Package
Singapore developers, REITs and property analysts have thrown support behind the city’s new Resilience Budget, a S$48.5 billion ($34 billion) COVID-19 stimulus package that includes a 100 percent property tax rebate for qualifying commercial properties.
Minister for Finance Heng Swee… Read More>>
Kwek Family Net Worth Jumps $166M in 1 Day and More Asia Real Estate Headlines
Property dynasties lead the way in Mingtiandi’s roundup of Asia real estate headlines today with news that the net worth of Singapore’s richest family jumped $166 million in a single day following a deal to buy out a London-listed hotel… Read More>>
Wing Tai and Hong Leong-CDL JV Top Bidders for S$875M Pair of Singapore Sites
Developers in tropical Singapore kept their cool at a couple of land tenders last week with a site near Bugis, at the fringe of downtown bringing 10 offers, while a second plot in the Geylang red light district attracted only… Read More>>
CDL Affiliate First Sponsor Buys Dresden Hotel for €49.5M
Singapore-listed hotel investment firm First Sponsor late last week announced the acquisition of the Westin Bellevue Hotel in Dresden, Germany for €49.5 million ($55 million), a purchase which adds to the close to €400 million the CDL Group affiliate has… Read More>>
Hong Leong Wins Hillview Rise Site in Western Singapore for S$460M
Singapore’s Hong Leong Holdings has set a new record for purchases of government land sites in western Singapore after the privately held property arm of Hong Leong investments agreed to pay S$460 million ($338 million) for a plot in the… Read More>>
Quek and Kwek Buy SG Site for $744M in Biggest En Bloc Sale Since 2007
Companies controlled by Singaporean tycoon Kwek Leng Beng and his cousin, Malaysian magnate Quek Leng Chan, have teamed up to buy a prime freehold site in the city’s River Valley neighborhood for S$980 million ($744 million).
The deal is Singapore’s… Read More>>
PE Veteran Grant Kelley Takes Over at Singapore Developer
City Developments Ltd, the Singapore-listed developer which owns the Millennium & Copthorne hotel chain, moved to internationalise its operations on Friday with the appointment of Apollo Global Management real estate head Grant Kelley as its new chief executive.
Kelley has… Read More>>