Category Archives: Developers

Keppel Land’s Q3 profit up 70% to S$78.5m

Posted on 21 Oct 2009 | Comments Off on Keppel Land’s Q3 profit up 70% to S$78.5m

Mainboard-listed developer Keppel Land said its third quarter net profit surged 70 per cent to S$78.5 million as property markets across Asia strengthened amid signs of an economic recovery.

Sales rose 22.6 per cent to about S$228 million for the three months ended September.

Capitalising on the improving market sentiment, Keppel Land launched Madison Residences and Caribbean Residences as well as soft-launched the Promont in the third quarter.

It said all developments enjoyed a strong take-up. More than 80 per cent of the 56 units at Madison Residences and 92 per cent of the 118 units launched at Caribbean Residences were sold.

This brings the total number of homes that Keppel Land sold year-to-date in Singapore to 240. Continue reading →

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Lincoln Suites launched at average $1,680 psf

Posted on 21 Oct 2009 | Comments Off on Lincoln Suites launched at average $1,680 psf

THE four property developers who jointly bought freehold Lincoln Lodge more than two years ago in a collective sale intend to launch the project tomorrow, they said yesterday.

The developers – Koh Brothers, Heeton Holdings, KSH Holdings and Lian Beng Group – paid $243 million for the District 11 property along Khiang Guan Avenue at the height of the property boom in June 2007. But they put off launching the project as the property market went south soon after.

Now, with the market seemingly staging a recovery, the 175-unit Lincoln Suites will be rolled out, beginning with invited guests tomorrow. The first phase of the launch will see 56 units offered at an average price of $1,680 per square foot (psf).

The consortium paid significantly more than the reserve price of $188 million for the project in 2007 as it was ‘very interested’ in the site. There were several bids for the site.

It was then estimated that the $243 million forked out worked out to $1,449 psf per plot ratio (ppr) including an estimated development charge (DC) of $413,000. Continue reading →

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Posted in Developers, New Launches, Property Price

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