News by PC Lee

Keppel Land on Sunday said it had acquired an additional 16% stake in the joint venture (JV) entities for Saigon Centre in Ho Chi Minh City, Vietnam.

DBS is maintaining its “buy” recommendation for CapitaLand Commercial Trust, thanks to the timely acquisition of the remaining 60% stake in CapitaGreen.

Property group UOL is acquiring Hilton Melbourne South Wharf for A$230 million (S$246 million).

GSH’s hospitality business grew by 22% to S$15.9 million from S$13 million due mainly to the increase in room occupancy rates at its two hotels in Sutera Harbour Resort in Kota Kinabalu, Sabah.

4Q2017 is expected to see the completion of P2; while in the UK, the Belgravia and Knightsbridge are scheduled to be completed in 2Q2017. Maiden billings from Forest Woods are expected from FY2017.

Named lyf@SMU, Ascott will simulate a lyf product at SMU to test out various co-living concepts, enabling its students to be the first in the world to experience and shape upcoming lyf properties.

The properties are expected to generate a net property yield of 6.9%.

CapitaLand says the acquisition will strengthen the group’s foothold in Greater Tokyo and increase the its total asset size in Japan to about S$2.5 billion.

CityDev says the acquisition was subject to an open market tender in accordance with regulatory requirements, and that Global City International was awarded the tender at a consideration of RMB550 million.

CapitaLand reported a 73.8% rise in 4Q16 earnings to S$430.5 million from a year ago on the back of improved operating performance.