CapitaLand Scores 28% Profit Jump in Q3

Lim Ming Yan CapitaLand

CapitaLand CEO Lim Ming Yan has some good news about Q3

Growth leads today’s real estate headlines once again as Singapore’s CapitaLand reports a 28 percent third quarter jump in profits for its pan-Asian operations. The numbers are also getting bigger for leading Hong Kong developer Sun Hung Kai which just agreed to pay nearly HK$15.9 billion to convert farms in the New Territories into farms. All these stories and more are yours, if you just read on.

CapitaLand Scores 28% Profit Jump in Q3

Fair value and portfolio gains from its Singapore and China properties, together with a 60 per cent stake in CapitaLand Vietnam Commercial Fund I helped boost real estate giant CapitaLand’s earnings for the third financial quarter by 28 per cent.

Net profit came in at S$316.95 million for the three months to Sept 30, 2017, from S$247.5 million a year ago. Read more>>

SHK Pays $2B to Convert New Territories Farms to Homes

Sun Hung Kai Properties (SHKP), one of the city’s biggest housebuilders, has reached an agreement with Hong Kong’s government to build more than 4,700 villas and medium-rise flats on a converted piece of farmland in Sai Kung, in a massive project.

The conversion of 4.97 million square feet of farmland at Shap Sze Heung near Sai Sha Road requires SHKP to fork out HK$15.9 billion (US$2 billion) in land premiums to the government, the highest ever paid in the city, according to market sources. SHKP declined to disclose the sum, but said it was “reasonable.” Read more>>

TH Real Estate Plans APAC Cities Fund in 2018

TH Real Estate plans to launch an Asia-Pacific Cities Fund next year to invest in core real estate in the region. The fund will be modelled on TH Real Estate’s core, open-ended European Cities Fund, which was launched in March last year and has already invested €1bn.

Speaking to media on a visit to Sydney today, Mike Sales, head of TH Real Estate, said: “The idea is to have a sister product for Asia-Pacific.” Read more>>

Guangzhou Luxury Home Prices Lead World with 36% Jump

China’s third-largest city, Guangzhou, topped a global luxury residential property price index in the year to September, posting a 36.3 per cent increase in the average price of prime homes, according to a report by real estate agency Knight Frank.

The company’s Prime Global Cities Index tracks luxury residential prices across 41 cities around the world, including Toronto, Hong Kong, Seoul and Paris. The index rose 4.2 per cent in the year to September, with Shanghai and Cape Town also following Guangzhou higher. Read more>>

GLP Boss’ VC Firm Leads RMB 60M Investment in Pop-Up Shop Site

Chinese pop-up shop platform, Putiandi, has recently raised 90 million yuan (approx. US$13.6 million) in A-round financing. In the financing round, GLP boss Ming Mei’s Eastern Bell Venture Capital, PGA Fund and GoHigh Fund co-invested 60 million yuan, while Meridian Capital contributed the remaining 30 million yuan.

This latest round follows RMB 20 million in financing for the space rental platform that was led by GoHigh Fund in July 2016. The firm said that the funds raised will be used to optimize Putiandi’s platform for short-term commercial rentals, and further leverage the company’s databases of commercial space. Read more>>

Did China’s Commodities Rout Lead to Mainland Purchase of the Center?

The record $5.2 billion sale of Hong Kong skyscraper The Center has conjured images of cash-rich Chinese state investors marching in to snatch one of the city’s prize assets. The reality may be less glamorous.

The controlling shareholder of the consortium buying the Li Ka-shing-owned building is China Energy Reserve & Chemicals Group, a unit of state oil behemoth China National Petroleum Corp. But China Energy, a Beijing-based specialist in the storage of oil and natural gas, is neither particularly closely connected to its illustrious part-owner, nor is it a cash cow, according to information contained in public filings. Read more>>

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