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PR Newswire
16-05-2014, 09:41 AM
FCL has been featured in this week's Edge. The following is the summary:
Development Prop:
Singapore - looking to further shortened turnaround time for launch of sites secured. Aiming to rightly priced new launches than to make buyers of earlier phases feel betrayed by lowering prices if response is not good. Land costs in Singapore averages 60 - 80% of total development costs, hence turnaround time is crucial than landbanking which is an expensive and risky strategy. FCL has reduced the time from securing land to launch from 12 months to 8 months and is aiming to further reduce to 6 months. Remaining unlaunched site is North Point site but need to get temporary bus terminal up before any launch can proceed. Expected launch price - $1100/1200psf (quite a challenge IMO)
China - waiting for shoe to drop and FCL is well positioned given that they have reduced their exposure over last few years. China developments required clearances from various levels of government.
Australia - still good and main obstacles for development are not from government authorities but from green groups and neighbourhood concerns (aka human rights issue)
UK - focusing away from Central London and looking at south of River Thames and outskirts of London. Cited a pre-selling of entire block @ Vauxhall before development commenced.
REITs and pipeline:
FCT - after Changi City Point, they are aiming to develop North Point 3 (600000sf net lettable) that will eventually be injected to FCT
FCOT - Alexandra Point might be injected to FCOT while grade A office building @ Cecil Street also meant for FCOT in the future.
FHT - mgt feels that 22% holdings of FHT post listing sufficient as FCL controls 100% of the REIT manager.
Others - Centrepoint redevelopment not imminent as aiming to redevelop with Starhub Centre but unable to get enbloc at 44 units of Centrepoint Residence going.
Analysts viewed eventual placement by TCC/Inter-Bev post 9 Jul 14 positively.
For all the details, grab your Edge this week.
Vested
GG
Development Prop:
Singapore - looking to further shortened turnaround time for launch of sites secured. Aiming to rightly priced new launches than to make buyers of earlier phases feel betrayed by lowering prices if response is not good. Land costs in Singapore averages 60 - 80% of total development costs, hence turnaround time is crucial than landbanking which is an expensive and risky strategy. FCL has reduced the time from securing land to launch from 12 months to 8 months and is aiming to further reduce to 6 months. Remaining unlaunched site is North Point site but need to get temporary bus terminal up before any launch can proceed. Expected launch price - $1100/1200psf (quite a challenge IMO)
China - waiting for shoe to drop and FCL is well positioned given that they have reduced their exposure over last few years. China developments required clearances from various levels of government.
Australia - still good and main obstacles for development are not from government authorities but from green groups and neighbourhood concerns (aka human rights issue)
UK - focusing away from Central London and looking at south of River Thames and outskirts of London. Cited a pre-selling of entire block @ Vauxhall before development commenced.
REITs and pipeline:
FCT - after Changi City Point, they are aiming to develop North Point 3 (600000sf net lettable) that will eventually be injected to FCT
FCOT - Alexandra Point might be injected to FCOT while grade A office building @ Cecil Street also meant for FCOT in the future.
FHT - mgt feels that 22% holdings of FHT post listing sufficient as FCL controls 100% of the REIT manager.
Others - Centrepoint redevelopment not imminent as aiming to redevelop with Starhub Centre but unable to get enbloc at 44 units of Centrepoint Residence going.
Analysts viewed eventual placement by TCC/Inter-Bev post 9 Jul 14 positively.
For all the details, grab your Edge this week.
Vested
GG
