Latest news with #CapitaLandDevelopment
CNA
4 days ago
- Business
- CNA
CNA938 Rewind - SG Brands we ❤️ x SG60 (Ep 4): CapitaLand Development CEO Jonathan Yap
As part of a special mini-series on 'Singapore Today' leading up to SG60, Daniel Martin speak with Jonathan Yap, CEO, CapitaLand Development – the development arm of CapitaLand Group responsible for some of Singapore's landmark building projects.
Time of India
5 days ago
- Business
- Time of India
Singapore's CapitaLand Integrated to acquire remaining stake in CapitaSpring
BENGALURU | SYDNEY: Singapore 's CapitaLand Integrated Commercial Trust said on Tuesday that it would buy the remaining 55% stake in CapitaSpring from CapitaLand Development and Mitsubishi Estate on an agreed property value of S$1.05 billion ($816.55 million). CapitaLand Integrated estimates the total acquisition outlay for the office and retail components of the 51-storey integrated development in Singapore's prime central business district at about S$482.3 million. CapitaSpring has maintained nearly 100% committed occupancy as of June 30, 2025, underpinned by high-quality tenants from diverse trade sectors, CapitaLand Integrated CEO Tan Choon Siang said. "Our Singapore exposure will increase from approximately 94% to 95% of our portfolio property value, advancing our strategic goal to deepen our presence in this core market." CapitaLand Development will sell its 45% stake, while Mitsubishi Estate plans to divest its 10% interest. Both CapitaLand Integrated and CapitaLand Development are part of the broader CapitaLand Group, which Temasek Holdings backs. The acquisition will be funded through a private placement expected to raise around S$500 million, the company said in a statement. The offering will be priced between S$2.105 and S$2.142 per new unit. The acquisitions are expected to deliver a distribution per unit (DPU) accretion of 1.1% on pro forma basis, assuming CapitaLand Integrated had held and operated 100% of CapitaSpring from January to June of this year. Global demand for office space has grown steadily in the past few years after the pandemic, reinforced by Singapore-listed City Developments' sale of office complexes for S$834.2 million in June.
The Star
6 days ago
- Business
- The Star
Singapore's CapitaLand Integrated to acquire remaining stake in CapitaSpring
SINGAPORE's CapitaLand Integrated Commercial Trust said on Tuesday that it would buy the remaining 55% stake in CapitaSpring from CapitaLand Development and Mitsubishi Estate on an agreed property value of S$1.05 billion ($816.55 million). CapitaLand Integrated estimates the total acquisition outlay for the office and retail components of the 51-storey integrated development in Singapore's prime central business district at about S$482.3 million. CapitaSpring has maintained nearly 100% committed occupancy as of June 30, 2025, underpinned by high-quality tenants from diverse trade sectors, CapitaLand Integrated CEO Tan Choon Siang said. "Our Singapore exposure will increase from approximately 94% to 95% of our portfolio property value, advancing our strategic goal to deepen our presence in this core market." CapitaLand Development will sell its 45% stake, while Mitsubishi Estate plans to divest its 10% interest. Both CapitaLand Integrated and CapitaLand Development are part of the broader CapitaLand Group, which Temasek Holdings backs. The acquisition will be funded through a private placement expected to raise around S$500 million, the company said in a statement. The offering will be priced between S$2.105 and S$2.142 per new unit. The acquisitions are expected to deliver a distribution per unit (DPU) accretion of 1.1% on pro forma basis, assuming CapitaLand Integrated had held and operated 100% of CapitaSpring from January to June of this year. Global demand for office space has grown steadily in the past few years after the pandemic, reinforced by Singapore-listed City Developments' sale of office complexes for S$834.2 million in June. ($1 = 1.2859 Singapore dollars) (Reporting by Sneha Kumar in Bengaluru and Scott Murdoch in Sydney; Editing by Sherry Jacob-Phillips and Rashmi Aich)
Yahoo
15-07-2025
- Business
- Yahoo
Singapore private home sales fall to six-month low before curbs
By Low De Wei (Bloomberg) — Singapore's new private home sales declined to the lowest level in six months in June, just before authorities introduced new measures to tame prices. Developers sold 272 units last month, data from the Urban Redevelopment Authority showed on Tuesday. That's lower than the 312 homes sold in May, but higher than the sales reported in June 2024. A home-buying frenzy in the Asian financial hub in late 2024 pushed up prices, further hitting affordability in one of the world's most expensive property markets. Singapore has sought to tackle surging prices in recent years, prompting authorities to implement multiple cooling measures. Earlier in July, Singapore hiked a tax on sellers of private homes and extended it to those that sell them within four years from three, moves aimed at curbing a trend of people flipping properties for a quick profit. Developers have slated a large number of project launches for July and August, as activity heats up after June, traditionally a slow month for home purchases, due to a month-long school break. The first mass market home launch since the curbs came in, saw nearly all the units offered by CapitaLand Development being taken up last weekend, more than the whole of June. Buyers are undeterred by the measures, although a 'deluge of launches' in the second half means that the average initial take-up for most of them is expected to come in at a much lower 30 per cent-50 per cent, Citigroup Inc analyst Brandon Lee said in a report on Monday. More stories like this are available on ©2025 Bloomberg L.P.
The Star
14-07-2025
- Business
- The Star
S'pore's first home launch since new curbs sells over 90%
An artist's illustration of the LyndenWoods development SINGAPORE: Singapore's first mass-market private residential project launched since new curbs were introduced saw the development almost sold out as homes were sold at lower-than-usual prices. The LyndenWoods development sold 324 units Saturday, the first day it started to accept bookings, CapitaLand Development said in a statement the same evening. That's about 94% of the 343 units to be built at a business park in the city's south. The launch came over a week after the introduction of surprise measures targeting speculators in the property market. Owners must now hold their homes for at least four years if they want to avoid paying a seller's tax, from three previously, while those who still choose to do so face higher levies than before. CapitaLand Development – part of CapitaLand Group that's owned by Singapore state investor Temasek Holdings Pte – said LyndenWoods homes were sold at an average price of S$2,450 (US$1,914) per sq ft to mainly professionals, couples and families who were attracted by its long-term investment potential. That's lower than median rates for similar units across Singapore and the district. Another project about a mile away has sold less than half of its 358 units after its launch earlier this year. The early performance may validate policymakers' concerns about a trend of flipping properties for a quick profit, which had driven a renewed jump in home prices and risked affecting affordability in one of the world's most expensive residential markets. Private home prices grew for a third straight quarter in the three months ended June. — Bloomberg
