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GuocoLand has just announced having been awarded a 99-year leasehold land parcel (area: 15,022.6 sq. metres) at Peck Seah Street/Choon Guan Street by URA.....
http://info.sgx.com/webcoranncatth.nsf/V...30027B1C1/$file/URA-Award-PeckSeahSite.pdf?openelement
At a price of S$1,708,080,000 for the land alone, I suppose one can say the proposed property development project is one for the very ambitious. It will be a major financial undertaking and risk for GuocoLand and Quek Leng Chan.
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Wow a billion dollars just for the land? That's really expensive!
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DBS Gp was very generous to QLC and he is using only a small portion of that huge profit to take on this project.
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noticed that price of guocoland has fallen quite a fair bit. at 8c dividend, yield is >5%. aanyone got any views?
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(23-05-2012, 11:17 AM)paullow Wrote: noticed that price of guocoland has fallen quite a fair bit. at 8c dividend, yield is >5%. aanyone got any views?
Looking at the projects it currently has on hand, the 8cent dividend doesnt seem sustainable. balance sheet also looks quite leveraged
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Guocoland has no dividend policy - as far as I can remember it has been 8 cents all these while - rain or shine
(23-05-2012, 11:39 AM)money Wrote: (23-05-2012, 11:17 AM)paullow Wrote: noticed that price of guocoland has fallen quite a fair bit. at 8c dividend, yield is >5%. aanyone got any views?
Looking at the projects it currently has on hand, the 8cent dividend doesnt seem sustainable. balance sheet also looks quite leveraged
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Dividend likely to be cut to 4 cents this year. Guoco Group, instead, will dig money out of Guocoleisure!
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Clermont Residence world class on price
PUBLISHED ON APR 17, 2014 1:10 AM
GUOCOLAND'S Clermont Residence in Tanjong Pagar has been ranked in the world's top 10 plushest high-rise apartment blocks by a website that caters to the world's rich.
Billionaire.com used a block's price per square foot and the price of its most expensive unit to come up with its premier league table.
It placed Clermont Residence, which is part of the Tanjong Pagar Centre mixed development, at No. 8, with an average price of US$2,360 (S$2,950) per sq ft (psf) and a penthouse worth US$47 million.
"The ultra-wealthy are property bulls. The average billionaire owns four homes worth a combined US$78 million, according to research from Wealth-X, intelligence firm and strategic partner of Billionaire," said the website's editor-at-large, Tara Loader Wilkinson.
London claimed the top spot with its One Hyde Park project in Knightsbridge, developed by British brothers Nick and Christian Candy and developer Waterknights. It had an average price of US$9,906 psf and a penthouse worth an eyepopping US$226.9 million.
New York came in second with its 432 Park Avenue development, by the CIM Group. It had an average price of US$6,742 psf and a penthouse price tag of US$95 million.
Hong Kong was two spots ahead of Singapore. At the Opus on Victoria Peak, a project by Swire Properties, units had an average price of US$10,740 psf while its penthouse costs US$58.6 million.
In a separate report last year, Billionaire.com ranked Paterson Hill in the Orchard Road vicinity as the fifth most expensive street in the world.
CHERYL ONG
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Large residential plot in Sims Drive draws just 4 bids
But some experts say GuocoLand's top bid of $530.9m is on 'bullish' side
Published on Apr 30, 2014 1:18 AM
A large residential site in Sims Drive had reeled in only four bids when the tender closed yesterday, with a top bid deemed cautious by most experts. -- PHOTO: ST GRAPHICS
By Cheryl Ong
A LARGE residential site in Sims Drive had reeled in only four bids when the tender closed yesterday, with a top bid deemed cautious by most experts.
Still, some other market watchers felt the top bid was bullish given current weak conditions.
With a maximum gross floor area of 771,775 sq ft, analysts said the parcel was the largest to hit the market in two years.
They said some developers were likely to have been deterred by the huge cost of developing it.
The 99-year leasehold plot spans 257,258 sq ft, and can yield about 900 units.
The top bid came from Malaysian-controlled developer GuocoLand, which beat the competition with a price of $530.9 million, or $688 per sq ft (psf) per plot ratio (ppr). This was 5.8 per cent more than the second-highest offer of $502 million - or $650 psf ppr - from a tie-up between City Developments, Hong Leong Group and TID Residential.
Sim Lian Land came in last with its offer of $356 million - 49 per cent below GuocoLand's bid.
The huge gap was reflective of "a highly uncertain outlook for the residential segment amongst developers", Mr Ku Swee Yong, chief executive of property agency Century 21 noted.
SLP International research head Nicholas Mak said the top bid was significantly lower than the highest bid lodged for a site in Geylang East Avenue 1 in January, just 400m away. It closed with an offer that was 12.8 per cent higher at $776 psf ppr.
But Mr Mak also pointed out that the 67,146 sq ft site is smaller, and would be more attractive to developers.
"A bigger land parcel would attract less demand due to the huge quantum required. Smaller developers would not be able to compete unless they form joint ventures," Ms Christine Li, research head at OrangeTee pointed out.
However, GuocoLand's bid still exceeded the expectations of some analysts.
Mr Ku said that the top bid was "relatively high" compared with the results of the tender for a site in Prince Charles Crescent, which he felt was in a "superior" location.
The 268,713 sq ft plot near River Valley Road was won by a consortium made up of UOL Venture Investments and Kheng Leong Company for $463.1 million, or $821 psf ppr.
Mr Ong Teck Hui, national director of research and consultancy at Jones Lang LaSalle, also felt that the bid was "bullish" in today's tepid property market.
"The optimism in the bidding could be partly attributed to the lack of new full-sized condominium developments in the vicinity, while the supply of unsold units in the area is not large," said Mr Ong.
Mr Mak expects the break-even price of the new development to be $1,090 psf to $1,130 psf and that it could be sold for $1,220 psf to $1,300 psf.
ocheryl@sph.com.sg
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"Sim Lian Land came in last with its offer of $356 million - 49 per cent below GuocoLand's bid."
SIm Lian want to pick durians at $344 psf ppr hahaha..
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
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