Capitaland Investment

[Musicwhiz]

The Straits Times
www.straitstimes.com
Published on Apr 27, 2013
CapitaLand posts 41% jump in profit

By Rachel Scully

STRONG sales from residential properties in Singapore and China pushed up first-quarter earnings for real estate giant CapitaLand.

Net profit jumped 41.2 per cent to $188.2 million for the three months ended March 31 from the same period last year. First-quarter revenue grew 3.2 per cent to $661.9 million.

Contributions to the healthy showing came from its four strategic business units: CapitaLand Singapore, CapitaLand China, CapitaMalls Asia and Ascott.

In an announcement yesterday, CapitaLand Singapore said it had sold 544 residential units for $1.3 billion in the quarter. Of these, condominium d'Leedon accounted for 481 units.

That meant sales in Singapore this quarter were similar to the total residential sales recorded for the full financial year last year.

In addition, CapitaLand China sold 955 residential units for about $400 million in the quarter, three times more than it did during the first quarter last year.

Sales from The Metropolis in Kunshan, The Pinnacle and Paragon in Shanghai, The Loft in Chengdu and iPark under Raffles City Shenzhen accounted for the 955 units sold.

Revenue growth for CapitaMalls Asia in the first quarter was mainly contributed by Olinas Mall, which was acquired last July, and The Star Vista in Buona Vista which opened last September.

Higher project and management fees in China also contributed to this growth.

Serviced residences Ascott contributed $92.6 million, up 5.7 per cent, to the group's first quarter revenue from newly acquired properties.

CapitaLand president and group chief executive Lim Ming Yan said that sustainable growth will be achieved through a sharper focus in the Singapore and China markets.

Despite the latest round of property cooling measures announced in January, CapitaLand said it remained "cautiously optimistic" about the local housing market.

In China, urbanisation is growing, and the 150 million people migrating from rural to urban areas will increase demand for housing and other amenities, said CapitaLand.

Earnings per share for the quarter climbed to 4.4 cents from 3.1 cents in the corresponding quarter last year.

Net asset value per share rose six cents to $3.61, from Dec 31 last year.

CapitaLand's share price increased seven cents to $3.65 yesterday.

rjscully@sph.com.sg

[Behappyalways]

overbid for land plot....

http://www.businesstimes.com.sg/premium/...t-20130913

Its bid for the 129,136 sq ft plot was about 27 percent higher than second-placed Keppel Land’s, while the lowest bid came in at S$213 million.
http://www.thejakartaglobe.com/archive/s...et/424993/

[CY09]

Land size: 129,136 sq ft
GPR: 4.9
Total GFA: 632766 sq ft.
CapitaLand bought the land at S$869 per sq ft per plot ratio. Assuming construction costs $200M (rough estimation), construction cost equates approx $316 per sq ft per plot ratio.

So total cost of $1,185 per sq ft per plot ratio vs condo priced at $1380 (lower band).

CapitaLand still earns at least 16.4% over its total cost (assuming 100% sold). Not too bad, I will say

[smallcaps]

Huh? Have they even managed to sell all of sky habitat?

[CY09]

Don't think sky habitat is 100% sold yet

[arthur]

Condo to be priced lower than neighbour Sky Habitat

CapitaLand's new 694-unit project will feature more smaller units


CAPITALAND is pricing its new condo project in Bishan lower than its earlier next-door launch, Sky Habitat. It is also minting smaller units, and a higher proportion of smaller units, in a strategy seen as keeping lumpsum prices within reach of a bigger pool of buyers.

The two 99-year leasehold projects are near Bishan MRT Station.

The property giant will open the showflat for its latest 694-unit Bishan project, whose name it has not made known, from tomorrow. Sales bookings are scheduled to begin two to three weeks later.

CapitaLand said yesterday it will offer the first phase of units in the project at prices ranging from $1,380-$1,550 psf.

It declined to specify how many or what types of units these will be or their psf average price. Such information will be released closer to the time that sales bookings start. "But we intend to price the new development competitively," it added.

Sales at Sky Habitat began in April last year, with 131 units sold by the developer in that month, at a median price of $1,583 psf, and at prices ranging from $1,435 psf to $1,893 psf in that month, according to Urban Redevelopment Authority (URA) data compiled from developers' monthly submissions.

Between October 2012 and July 2013, 40 units were sold at $1,416-$1,810 psf.

CapitaLand said yesterday that to date, it has sold 172 units at Sky Habitat at an average price of $1,589 psf.

Responding to market trends, the developer has gone for smaller units in the new project.

For instance, the smallest unit in the new development is 484 sq ft for a one-bedder - compared with 635 sq ft for Sky Habitat, for a one-bedroom with study unit. Two-bedders in the new project start from 678 sq ft, compared with 721 sq ft in Sky Habitat.

As well, smaller units make up a higher proportion of units in the new condo. One and two-bedroom units (including two-bedroom suites) make up 74 per cent of the 694 units.

At Sky Habitat, on the other hand, one and two-bedders (including two-bedroom + study units) account for 42 per cent of the total 509 units.

Star architect Moshe Safdie designed Sky Habitat. The new project's architect is DCA Architects.

The latest project is being developed by a 75:25 joint venture between CapitaLand and Mitsubishi Estate Asia.

The two have respective stakes of 65 per cent and 25 per cent in Sky Habitat, with Shimizu Corporation holding the balance 10 per cent.

CapitaLand bagged the Sky Habitat site at $869.36 per square foot per plot ratio (psf ppr) in February 2011 and the next-door plot at $852.94 psf ppr in a tender that closed in November last year.

Separately, Fairview Developments, a unit of Tong Eng Brothers, will begin sales bookings next week for its freehold strata landed housing project in Ang Mo Kio Avenue 5.

Named Belgravia Villas, the project comprises 18 strata semi-detached houses and 100 strata terrace houses.

The terrace houses, with strata areas of 3,500-3,800 sq ft, will be priced at $3 million-$3.2 million for intermediate units and $3.2 million-$3.4 million for corner units.

The semi-Ds, which will have strata areas of 3,800-4,000 sq ft, will be priced between $3.7 million and $3.9 million each.

Each of the 118 homes will be three storeys high and have a basement with two parking lots. Each home will have five bedrooms, a powder room, wet and dry kitchens.


http://www.businesstimes.com.sg/premium/...t-20130913



So much for all the property agents lurking around in this forum, posting pictures and prices on various threads. After the closure of CNA forum, alot of spillovers to various forums.
The older timers seems to be getting slightly quieter.

[Behappyalways]

Don't think sky habitat is 100% sold yet

As of 31/07/2013

Total number of units in Sky Habitat - 509 units
Cumulative units launched to date - 250 units
Cumulative units sold to date - 168 units
Units sold in Jul 2013 - 3 units
(I looked at square foot's data and it seems that they sold nothing in Aug 2013)

http://www.ura.gov.sg/realEstateIIWeb/pr...rch.action

They overpaid for the 1st plot of land.....and in order to protect the 'price' of the 1st plot, they had to bid for the 2nd plot of land adjacent to the 1st plot...(throwing good money over bad?) .....

so now they are 'stuck' with 2 expensive plots......lucky is that CapitaLand is a BIG company and GLC

[smallcaps]

Don't think sky habitat is 100% sold yet

As of 31/07/2013

Total number of units in Sky Habitat - 509 units
Cumulative units launched to date - 250 units
Cumulative units sold to date - 168 units
Units sold in Jul 2013 - 3 units
(I looked at square foot's data and it seems that they sold nothing in Aug 2013)

http://www.ura.gov.sg/realEstateIIWeb/pr...rch.action

They overpaid for the 1st plot of land.....and in order to protect the 'price' of the 1st plot, they had to bid for the 2nd plot of land adjacent to the 1st plot...(throwing good money over bad?) .....

so now they are 'stuck' with 2 expensive plots......lucky is that CapitaLand is a BIG company and GLC

Like that who dare to buy unless the price is much reduced but wouldn't that mean existing owners lugi (I presume they r pretty worried now...)

[Behappyalways]

Those who bought sky habitat must be cursing.....almost same land cost as sky vue but sky vue with higher proportion of smaller units, yet psf is cheaper .....

CapitaLand to launch Sky Vue
http://sbr.com.sg/residential-property/e...ch-sky-vue

[smallcaps]

Those who bought sky habitat must be cursing.....almost same land cost as sky vue but sky vue with higher proportion of smaller units, yet psf is cheaper .....

CapitaLand to launch Sky Vue
http://sbr.com.sg/residential-property/e...ch-sky-vue

Funny that the article compares average psf even though makeup of units is quite different. For same size the price probably much lower than SH