Category Archives: Developers

Keppel Land issues 8.7 million new shares

Posted on 2 Oct 2009 | Comments Off on Keppel Land issues 8.7 million new shares

Property developer Keppel Land said on Friday that it is issuing some 8.7 million new shares, following its offer to delist its subsidiary, Evergro Properties.

The shares will be listed with effect from Monday, October 5.

Following the issue of the new shares, Keppel Land will have some 1.4 billion shares in float. This means the new shares account for about 0.6 per cent of the total shares.

Under the delisting proposal, Evergro shareholders could choose to receive 1,000 new ordinary KepLand shares for every 7,000 Evergro shares.

KepLand added that the delisting allows it to combine the operational expertise, industry knowledge and extensive networks of both companies.

Source : Channel NewsAsia – 2 Oct 2009

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Govt asked to release more land sites in less central areas

Posted on 2 Oct 2009 | Comments Off on Govt asked to release more land sites in less central areas

Property developers in Singapore are calling for the government to release more land sites in less central areas so that they can build more affordable mass market homes.

On the sidelines of a lunch hosted by the Real Estate Developers’ Association of Singapore (REDAS) on Friday, industry players said demand for private homes will continue to rise and push up prices.

It said most of the recent residential sites released for tender have been in “hotspot” areas. These are places located near MRT stations and other neighbourhood amenities, and cost more than those located further away.

REDAS has since requested for the Urban Redevelopment Authority to release a more even spread of sites.

Simon Cheong, president of REDAS, said: “There is an adequate number of sites now, to be honest. But perhaps in the next confirmed list, we’ll have sites that are more spread out across the island for developers to pick from.

“Land that is not in an MRT area or in a ‘hotspot’ probably would have a lower price, so the developer would have a better choice for homebuyers. In other words, more affordable land for developers will mean more affordable products for the consumers.” Continue reading →

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Posted in Developers, Property Market / Real Estate

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