Singapore-listed China developer Yanlord (YNLG.SI) said on Monday it has teamed up with GIC Real Estate to buy a prime residential site in Tianjin, China for 1.16 billion yuan ($226.1 million).
The site in Jinnan District will provide 364,787 square metres of gross floor area.
GIC Real Estate is the property arm of Singapore wealth fund Government of Singapore Investment Corp (GIC.UL).
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Residential developer AVJennings today announced details in relation to the addition of over 2,700 lots to its residential pipeline which stood at 9,500 lots as at Jun 30.
The company says it acquired of 470 lots at Cobbitty, New south Wales, a site located in one of Sydney’s most significant growth corridors in South West Sydney. The 43 hectare parcel is zoned residential. Another acquisition is located at Coomera, Queensland.
AVJennings also entered into agreements in relation to the Elysium project in Noosa Heads in Queensland which comprises some 158 lots and 16 nearly completed dwellings, and the Land Management Corporation, a South Australian Government body, in relation to a project of over 1,750 lots at Penfield in Adelaide’s northern growth corridor.
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CapitaLand, through its wholly-owned subsidiary, CVH Cayman 10, held through another wholly-owned subsidiary, CapitaLand (Vietnam) Holdings, has signed a Conditional Joint Venture Agreement with No Va Land Investment Group Corporation, a leading real estate developer in Vietnam, to jointly develop a residential site in District 9, Ho Chi Minh City, Vietnam.
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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CapitaLand today announced that Wong Heang Fine has assumed the Chief Executive Officer (CEO) position at CapitaLand Residential Singapore, following the departure of Patricia Chia. Wong will concurrently continue in his present role of developing CapitaLand’s business in the Gulf Cooperation Council (GCC) region.
Wong joined the CapitaLand Group in 2006. Prior to that, he last held the post of President & CEO of SembCorp Engineers and Constructors. Wong, who is 52 years of age, holds a Master of Science in Engineering Production & Management from the University of Birmingham, UK and a Bachelor of Science in Mechanical Engineering (First Class Honours) from the University of Leeds, UK.
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Singapore residential market showing increasing signs of cooling, with latest government land tender attracting only two bids vs 5-18 bids in last 12 tenders, says UBS, according to Dow Jones.
UBS adds take-up for new home launches continues to slow, with Guocoland’s (F17.SG) Waterline project selling just over a dozen units out of 103 during launch: “With slowing momentum, we believe the risk of further government cooling has eased. We expect residential prices to track a positive but subdued growth trajectory in line with economic recovery.”
Favours office landlords like Keppel Land (K17.SG), CapitaCommercial Trust (C61U.SG) over residential developers.
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Yanlord Land Group (Z25.SI) and Ho Bee Investment (H13.SI), through their joint venture company in Singapore, Yanlord Ho Bee Investments, acquired six prime residential development sites (A-08, A-09, A-11, A-14, A-15 and A-19) with a combined site area of 186,444 sqm and a total planned GFA of 387,597 sqm in the Tangshan Nanhu Eco-City in Hebei for RMB504.6 million ($102.8 million) at an average purchase price of RMB1,302 per sqm.
Centred on the concept of environmental conservation, the Nanhu Eco-City has been earmarked for the development of a new first-tier city centre that incorporates modern infrastructure with environmentally conscious living conditions and comprehensive recreational amenities.
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Yanlord Land Group says Yanlord Land Pte Ltd (YLPL) has entered into a joint venture with an affiliate of GIC Real Estate (GICRE) to set up a new subsidiary for the development of a prime residential development site in Panchenggang, Jinjiang district in Chengdu.
GICRE’s affiliate, Reco Yizhong Private Limited, will own 75% of Yanlord Property Investments Pte Ltd, while YLPL will own the remaining 25% interest.
The project has a total planned gross floor area of about 390,658 square metres.
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Tee International, the engineering and integrated real-estate and facilities management group, today announced that Chewathai, which is 49%-owned by Tee’s wholly-owned subsidiary, Trans Equatorial Engineering, has acquired a 6,312 sqm plot of land at Ramkhamhaeng Road in Bangkok, Thailand, for 151.65 million baht ($6.6 million).
Developer Sim Lian Land has won the tender for the residential site at Tampines Avenue 1 and Avenue 10. It submitted the winning bid of $302 million for the 344,445 sqft plot. The site with a 99-year lease attracted a total of eight bids. The remaining bids range between $168 million and $289 million.
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Singapore has introduced measures to cool its housing market, imposing a new stamp duty on homes sold within one year of purchase and capping the maximum housing loan at 80% of the property value.
“While the current level of speculative activity in the market is still lower than what it was at the height of the property market boom, and overall price levels are below the previous peak, there is a risk that the market could overheat in the next few months,” the government said in a late last night.
Bloomberg says CapitaLand, Southeast Asia’s biggest developer, plans to launch an average 3,000 residential units a year in China, Liew Mun Leong, president and chief executive officer, said at a briefing today, without giving a timeframe. He also said CapitaLand aims to expand its Vietnam portfolio to 10 percent of its total assets in the next three to five years.
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China New Town Development Co. (CNTD) says it has handed over two residential plots from Wuxi Hongshan Project to local Land Reserve Centre for public auction.
The site area of the land parcels (XDG(XQ)-2008-21) and (XDG(XQ)-2008-28) are 53,769 and 65,911 square meters respectively representing gross floor area of 55,061 and 74,150 square meters respectively. The last achieved price for a residential land parcel from a Wuxi project was RMB 1,875 psm ($381 psm) in October 2009. This sale is expected to be completed on Feb 8.
CapitaLand, through wholly-owned subsidiary of CapitaLand (Vietnam) Holdings, has signed a joint venture agreement with Hoang Thanh Investment and Infrastructure Development Joint Stock Company, a leading real estate developer in Vietnam, to jointly develop a 14,000-square metre residential site in Ha Dong District in Mo Lao New Urban Area, Hanoi.
Roxy-Pacific Holdings says wholly-owned subsidiary RP Properties has agreed to purchase all 14 strata residential units at Kovan Centre at 9 Yio Chu Kang Road for $18.3 million. This adds to the 37 retail units it already owns in the same building.
Tee International says wholly-owned subsidiary Tee Management has entered into a Memorandum of Understanding (MOU) with Taman Tasik Gemilang Sdn Bhd to jointly develop a residential apartment development in Kuala Lumpur, Malaysia.
