Mainboard-listed Yanlord Land Group says today that it had successfully acquired a prime residential development site (D-04-14) with a total planned GFA of 179,944 sqm in Tangzhen New District, Pudong, Shanghai for RMB2.89 billion ($568 million) or an average purchase price of RMB16,102 per sqm in a public land auction.
Posts Tagged ‘land’
Property firms fall on China measures
September 30th, 2010 |
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Shares of Singapore’s property firms with exposure to China fell on Thursday after the world’s most-populous country introduced new measures to cool its real estate market, traders said.
CapitaLand <CATL.SI> shares fell as much as 1.2% to $4.06, with nearly 9 million shares changing hands by 9:44 a.m.
China on Wednesday told banks to demand a downpayment of at least 30% from all mortgage applicants and to halt loans to buyers of third homes.
Keppel Land <KLAN.SI> fell as much as 1% to $4.01, with over 2.2 million shares changing hands, while Hongkong Land <HKLD.SI> retreated 1.6% to $6.03.
“This news will definitely have a negative impact for those property developers with higher exposure to China, like Keppel Land and CapitaLand,” said a local trader.
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Sept 30: Sound Global, GuocoLand, Keppel Land, Hongwei Tech
September 30th, 2010 |
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Singapore shares may see a weak start on Thursday after Wall Street’s main indices ended lower overnight, with September’s rally losing some steam. Stocks may also come under pressure after the US passed legislation to pressure China to let its currency rise faster, fanning the flames of a long-running dispute over trade and jobs.
Singapore’s benchmark Straits Times Index <.FTSTI> rose 0.28% on Wednesday to 3,106.03 points. Stocks and factors to watch:
GuocoLand declares interested persons transaction in Shanghai land acquisition deal
September 29th, 2010 |
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GuocoLand Limited (GLL) says wholly-owned subsidiary, GuoSon Investment Company Limited (GICL), together with Guoco Investments (China) (Glnv), a wholly-owned subsidiary of Guoco Group Limited (GGL), has tendered successfully in the proportion of 50:50 for a land parcel known as Plot 9 in Changfeng, Shanghai. GGL is the parent company of GLL.
The aggregate purchase consideration for the site is RMB3.04 billion ($598.9 million or RMB24,812 psm per plot). GICL and Glnv have equally paid for a deposit of RMB382 million ($75.3 million) for the site.
Keppel Land strengthens focus on China
September 29th, 2010 |
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Keppel Land Limited today announced it will strengthen its focus in China through a wholly-owned subsidiary, Keppel Land China, which is being established to own and operate all of Keppel Land’s properties in the country.
Building on the Keppel Group’s strong network and track record in 20 cities across China, Keppel Land currently has a total GFA of 5.3 million sqm which translates to more than 40,000 homes in township, residential and waterfront developments. Keppel Land is also an investor, as well as developer cum project manager for the Keppel development, in the landmark Singapore-China government project, the Sino-Singapore Tianjin Eco-City.
UOL declares interested party transaction in acquisition of land in Changfeng district, Shanghai
September 29th, 2010 |
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UOL Group says wholly-owned subsidiary, UOL Capital Investments, and Peak Star, a subsidiary of Kheng Leong Co. (KLC) and Singland China Holdings (SCH), a subsidiary of Singapore Land, have successfully tendered, on a 40:30:30 basis, for the proposed acquisition of a plot of land 39,540 sqm in area called Parcel 11, Changfeng District, Shanghai, China, for RMB 2.06 billion ($406 million) or RMB24,000 psm of gross floor.
The tenure for the land is 70 years for the residential component (to take up 90% of the GFA) and 40 years for the retail component (10%).
Under SGX’s listing manual, KLC is considered to be an associate of Wee Cho Yaw, Wee Ee Chao and Wee Ee Lim; while Singapore Land is considered an associate of Wee Cho Yaw. Wee Cho Yaw is also the director and controlling shareholder of UOL Group while Wee Ee Chao and Wee Ee Lim are directors and substantial shareholders of the same company.
ST Engineering land systems arm sets up construction equipment company in India
September 24th, 2010 |
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ST Engineering today announced that its land systems arm, Singapore Technologies Kinetics, has established a wholly-owned Indian subsidiary, LeeBoy India Construction Equipment Pvt Ltd, with a total investment of about $50 million, comprising $16.7 million in equity and shareholder’s loan of up to $33.4 million which will be made in two phases.
Immediately after the incorporation of LeeBoy India, the management of the company will take up 3% of the $16.7 million equity of the company.
UOL remains top pick among developers likely to gain from land swap deal: Nomura
September 23rd, 2010 |
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Developers with assets in the Marina Bay, Rochor and Tanjong Pagar areas like Keppel Land and UOL Group should continue to capture investor interest as more details about the Singapore-Malaysia historical land swap agreement emerge, says Nomura Singapore in a residential property report dated Sept 21.
On Sept 20, Singapore and Malaysia finalised an agreement to swap six land parcels in Singapore’s Marina Bay and Rochor districts for six sites in Singapore that are currently occupied by the KTM railway link between Singapore and Malaysia. The land parcels in Marina Bay and Rochor will be jointly developed by Malaysia and Singapore in a 60:40 JV.
Singapore, Malaysia agree to swap plots of land
September 20th, 2010 |
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Singapore and Malaysia have agreed to swap land parcels in the city-state as part of a broad agreement that will see Malaysia give up its control of railway land that runs through Singapore.
In exchange for land that is currently occupied and controlled by Malaysia’s railway operator, Singapore will give a Malaysia-Singapore joint venture company six land parcels near the city-state’s central business district, the Malaysian government said on Monday.
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Singapore, Malaysia to revise earlier land swap agreement
September 20th, 2010 |
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Singapore and Malaysia agreed to swap six parcels of land under a revised agreement as they seek to boost relations that have been marred in the past by disputes over water supply and territorial claims.
The neighboring countries agreed in May to relocate the operations of a train station owned by the Malaysian government near the city-state’s business district, ending a decades-old dispute over land usage. Singapore made an “improved” land swap offer, the island’s Prime Minister Lee Hsien Loong said in the city-state today.
Fragrance Group unit acquires Geylang Road land for $31.6m
September 17th, 2010 |
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Fragrance Group says wholly-owned subsidiary, Fragrance Realty Pte Ltd, has entered into an agreement to acquire the property known as MK25 Lots 06219X and 06220K at Geylang Road for $31.55 million.
The development land has a freehold tenure with a total land area of 1,681.2 square meters. The development land can yield a maximum permissible gross floor area of 5,043.60 square meters.
Fragrance Group says it intends to develop a residential-cum-commercial building on the development land. The costs of the above acquisition and development will be financed by internal funds and bank borrowings.
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Hongkong Land started at Reduce by BNP Paribas with US$5.42 target
September 17th, 2010 |
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BNP Paribas starts Hongkong Land (H78.SG) at Reduce with US$5.42 ($7.24) target price, according to Dow Jones.
BNP Paribas notes current share price has exceeded its 2008 peak by 33%, but rents in Central HK still 20%-25% below their 2008 levels.
Research house says Hongkong Land still faces negative reversionary pressure on rents as existing expensive leases get renewed in 2011; “even if the rise in spot rents were to maintain its momentum, greater benefits would only be seen in 2012, when we expect 10% growth in gross-rental income.”
Shares up 0.2% at US$5.98.
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Keppel Land to launch first Guangdong waterfront villas in early 2012
September 16th, 2010 |
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Keppel Land says it expects to launch the first edition of homes in the waterfront residential cum marina development in Zhongshan, Guangdong province, China, in early 2012.
It also announced it had acquired an additional 66 hectares of the waterfront site.
The first edition homes will feature luxurious villas of various sizes in excess of 400 square metres. Construction is scheduled to commence in phases from end-2010.
Keppel Land had first announced in April 2008 its interest to develop premium waterfront homes in the affluent Pearl River Delta region of Zhongshan, located on MoDao Island in the Shenwan Town of Zhongshan City. Carried out in phases, the acquisition was done through Sunseacan Investment (HK) Company, of which Keppel Land has an 80% stake through its wholly-owned subsidiary, Sunsea Yacht Club (Zhongshan) Co.
Land acquisition not at cost of fertile land : Sonia Gandhi
September 9th, 2010 |
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Congress President Sonia Gandhi on Thursday reacting to the verdict of the Supreme Court that endorsed the Mayawati Government””s acquisition of 25 million square metres of land along the six-lane Yamuna Expressway Project connecting New Delhi to Agra and Mathura, said land acquisition should not result in loss of fertile land. “We must protect the [...]
Sept 6: Singtel, home developers, Keppel Land
September 6th, 2010 |
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Singapore shares are likely to rise on Monday after a better-than-expected U.S. jobs data report eased investors’ fears over the pace of economic recovery and sent Wall Street rallying. Singapore’s benchmark Straits Times Index <.FTSTI> inched 0.53% higher on Friday to 3,002.56 points.
Here are some stocks and factors to watch:
Keppel Land plans redevelopment of Indonesian office building
September 5th, 2010 |
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Keppel Land, the Singapore-based developer partly owned by the world’s largest builder of oil rigs, said it will redevelop an office building in the Indonesian capital of Jakarta. The project will take about three years to complete and will cost an estimated 636 billion rupiah ($95 million), the company said today in an e-mailed statement.
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Keppel Land rated ‘ buy’ by Kim Eng
September 3rd, 2010 |
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Kim Eng Research in a Sep 1 research report says: “Following the Singapore government’s latest round of property cooling measures, we think that the mass market segment could undergo a 3-5% price correction over the next 12 months. However, Keppel Land’s (KepLand) diversified landbank and office exposure should minimise its sensitivity to such localised policy risks.
Keppel Land rated ‘ buy’ by Kim Eng
September 3rd, 2010 |
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Kim Eng Research in a Sep 1 research report says: “Following the Singapore government’s latest round of property cooling measures, we think that the mass market segment could undergo a 3-5% price correction over the next 12 months. However, Keppel Land’s (KepLand) diversified landbank and office exposure should minimise its sensitivity to such localised policy risks.
Yangzijiang, Keppel Land may join STI: Nomura
September 2nd, 2010 |
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Yangzijiang (BS6.SG), Keppel Land (K17.SG) may be included in STI in index’s semi-annual review, replacing ComfortDelgro (C52.SG), SMRT (S53.SG), says Nomura, according to Dow Jones.
Nomura notes STI comprises top 30 stocks by market cap listed on SGX. House tips weighting on index for Yangzijiang at 0.82%, for Keppel Land at 0.80%. Says number of consumer services stocks in STI would fall to 5 from 7 if ComfortDelgro, SMRT exit, reducing weighting for consumer services sector to 13.70% from 15.46%.
Yanlord Land achieves $141m in pre-sales for G53 residential development in Nanjing
August 31st, 2010 |
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Yanlord Land Group says it had sold 84.3% or 361 of the 428 apartment units during the first two days of the inaugural launch of Yanlord G53 Apartment in Nanjing. Average selling price (ASP) of RMB1,914 psf ($381 psf) was achieved for the 370,375 sf gross floor area (GFA) sold.
Total contracted pre-sales for the first two days amounted to RMB708.8 million.
Yanlord G53 is a residential development located in the Hexi New Area. With a total development GFA of 1,043,120 sqm, the subsequent phases of Yanlord G53 will be progressively launched and should contribute significantly to the group’s future development.
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