In the three months to September, revenue rose 27.7% to S$1.37 billion on the back of higher contributions from development projects in Singapore and China, higher rental income from commercial portfolio in Singapore, as well as serviced residence business.
Gross revenue in 2Q rose 1.8% to S$84.2 million (RM252 million), lifted by higher rental rates secured across all property segments and higher occupancy achieved at hi-tech buildings.
Revenue fell 54% to S$202.8 million.
The Ascott Limited, CapitaLand’s wholly owned serviced residence business unit, announced on Monday it has secured seven new properties with 1,714 units across seven cities in Asia.
GuocoLand is said to be in talks to buy a stake in the overseas unit of a Malaysian developer that is expected to go public later this year, according to Dow Jones reports.