{"id":101234,"date":"2018-11-14T11:20:06","date_gmt":"2018-11-14T04:20:06","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitalands-net-profit-rose-13-6-in-q3\/"},"modified":"2018-11-14T12:02:48","modified_gmt":"2018-11-14T05:02:48","slug":"capitalands-net-profit-rose-13-6-in-q3","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitalands-net-profit-rose-13-6-in-q3\/","title":{"rendered":"CapitaLand\u2019s net profit rose 13.6% in Q3"},"content":{"rendered":"


\nView of The Nassim condominium project.
\nCapitaLand\u2019s net profit for the third quarter of 2018 rose 13.6 percent to $362.2 million from $206.3 million in Q3 2017, on account of higher operating profit and gains from asset recycling.
\nOperating profit for Q3 2018 increased 13.3 percent to $233.7 million, primarily due to contributions from newly acquired and opened investment properties in China, Germany and Singapore.
\nRevenue, on the other hand, dropped 16.9 percent to $1.26 billion, mainly due to lower contributions from development projects in China and Singapore.
\nCapitaLand noted that the decline was partially mitigated by higher rental revenue from newly opened and acquired properties in China, Germany and Singapore as well as the consolidation of revenue from CapitaLand Retail China Trust, CapitaLand Mall Trust and Raffles City Singapore Trust with effect from August 2017.
\nFor the first nine months of the year, net profit dipped 0.4 percent to $1.287 billion, while revenue jumped 16.8 percent to $3.978 billion, excluding gains from the sale of The Nassim.
\n\u201cCapitaLand\u2019s disciplined capital recycling continues to gain momentum. We have divested $4 billion worth of assets and deployed the capital into $6.1 billion worth of new investments to date this year. These include acquisitions to secure a good development pipeline as well as higher yielding assets that are immediately income producing,\u201d said Lee Chee Koon, president and Group CEO of CapitaLand Group.
\nHe revealed that the company is \u201cactively building a resilient and diversified portfolio across asset classes and key geographies\u201d where they have dominant footholds.
\nIn fact, it has expanded into complementary asset segments including the US multifamily asset class \u2013 a move which is in line with CapitaLand\u2019s strategy of \u201cmaintaining a balance between emerging and developed markets, while targeting an optimal mix between trading and investment properties\u201d.
\nDuring the third quarter of 2018, the company acquired a mixed-use site at Sengkang Central, another site where CapitaLand intends to develop the first co-living property in one-north, a prime site in Ho Chi Minh City and two residential sites in Guangzhou.
\nHome buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…CapitaLand\u2019s net profit rose 13.6% in Q3<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

View of The Nassim condominium project. CapitaLand\u2019s net profit for the third quarter of 2018...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-101234","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-qkO","jetpack-related-posts":[{"id":33711,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-q3-net-profit-up-28-to-247-5-million\/","url_meta":{"origin":101234,"position":0},"title":"CapitaLand Q3 net profit up 28% to $247.5 million","date":"November 10, 2016","format":false,"excerpt":"\r Earnings grew on higher contributions from its residential business in China and Singapore. (Photo: CapitaLand) Property developer CapitaLand posted a total net profit of $247.5 million in the third quarter of 2016, up 28.4 percent from $192.7 million in the previous year, on the back of better operating performance.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":71242,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-profit-up-28-1-in-q3\/","url_meta":{"origin":101234,"position":1},"title":"CapitaLand profit up 28.1% in Q3","date":"November 8, 2017","format":false,"excerpt":"\r Funan Mall redevelopment that cost $560m, targeted to be completed in Q4 of 2019. (Photo: Capitaland) CapitaLand saw its net profit for the third quarter of 2017 increase 28.1 percent to $317 million from $247.5 million over the same period last year. It attributed the hike primarily to fair\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":86932,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-net-profit-down-18-8-on-absence-of-one-off-gain\/","url_meta":{"origin":101234,"position":2},"title":"CapitaLand net profit down 18.8% on absence of one-off gain","date":"May 2, 2018","format":false,"excerpt":"\r Net profit fell due to the absence of a $160.9 million gain from the sale of The Nassim a year ago. CapitaLand\u2019s net profit for the first quarter of 2018 fell 18.8 percent to $319.1 million, primarily due to the absence of a $160.9 million gain from the sale\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":102056,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitalands-earnings-forecasted-to-rise-by-19-in-2018-2020\/","url_meta":{"origin":101234,"position":3},"title":"Capitaland\u2019s earnings forecasted to rise by 19% in 2018-2020","date":"December 6, 2018","format":false,"excerpt":"\r La Botanica in Xi\u2019an is one of CapitaLand\u2019s latest residential developments in China. (Photo: CapitaLand) UOB KayHian analysts expect Capitaland\u2019s net profit to grow by about 19 percent in 2018 to 2020 on the back of robust residential sales in China, offshore property purchases and the highly-anticipated opening of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":118120,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-profit-drops-89-in-1h-2020\/","url_meta":{"origin":101234,"position":4},"title":"CapitaLand profit drops 89% in 1H 2020","date":"August 7, 2020","format":false,"excerpt":"\r With COVID-19 pandemic adversely affecting its financial performance, CapitaLand Limited\u2019s profit after tax and minority interest (PATMI) plunged 89%, to $96.6 million in the first half of 2020 from $875.4 million over the same period last year. Operating PATMI also declined 27.7% year-on-year to $261.2 million.\u00a0 In an SGX\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":21921,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitalands-net-profit-sinks-36-6-in-q2\/","url_meta":{"origin":101234,"position":5},"title":"CapitaLand\u2019s net profit sinks 36.6% in Q2","date":"August 4, 2016","format":false,"excerpt":"\r Artist\u2019s impression of Cairnhill Nine in Singapore. Source: CapitaLand Property giant CapitaLand has reported a net profit drop of 36.6 percent to S$294 million in Q2 2016, due to lower fair value gains from revaluation of properties, partially mitigated by improved operating performance. However, group revenue rose 9.7 percent\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/101234"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=101234"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/101234\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=101234"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=101234"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=101234"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}