\nThe sale of Nassim Hill Realty was satisfied entirely in cash, said CapitaLand.<\/p>\n
CRL Realty, a wholly-owned subsidiary of property giant CapitaLand, has sold its 100 percent stake in Nassim Hill Realty (NHR) to Kheng Leong Company for $411.6 million.
The sale of Nassim Hill Realty was satisfied entirely in cash, said CapitaLand. CRL Realty,...<\/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-40872","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-aDe","jetpack-related-posts":[{"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":40872,"position":0},"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":101234,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitalands-net-profit-rose-13-6-in-q3\/","url_meta":{"origin":40872,"position":1},"title":"CapitaLand\u2019s net profit rose 13.6% in Q3","date":"November 14, 2018","format":false,"excerpt":"\r View of The Nassim condominium project. CapitaLand\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. Operating profit for Q3 2018 increased 13.3 percent to $233.7 million,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":33711,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-q3-net-profit-up-28-to-247-5-million\/","url_meta":{"origin":40872,"position":2},"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":1489,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hit-hcmc-luxury-condo-to-test-foreign-market-at-sg-weekend-launch\/","url_meta":{"origin":40872,"position":3},"title":"Hit HCMC luxury condo to test foreign market at SG weekend launch","date":"January 14, 2016","format":false,"excerpt":"\r The District 2-based project is already a favourite among the affluent crowd and expats The Nassim | Rendering courtesy of Hongkong Land A partnership between Hongkong Land and leading Vietnamese developer SonKim Land, The Nassim\u00a0was recently launched in Ho Chi Minh City a few months after the introduction of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/01\/2043_TheNassim_04_LO.jpg?fit=740%2C436&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":110315,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/freehold-condominium-at-nassim-road-up-for-en-bloc-sale\/","url_meta":{"origin":40872,"position":4},"title":"Freehold condominium at Nassim Road up for en bloc sale","date":"August 29, 2019","format":false,"excerpt":"\r The four-storey condominium was completed in 2008, featuring two- and three-bedroom units as well as penthouses that range from 115 sq m to 343 sq m. The owners are asking for a reserve price of\u00a0$222.68 million or $3,508 per sq ft per plot ratio (psf ppr). Beaufort On Nassim,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":47277,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/govt-to-amend-absd-rules-to-include-share-transfer\/","url_meta":{"origin":40872,"position":5},"title":"Gov\u2019t to amend ABSD rules to include share transfer","date":"March 9, 2017","format":false,"excerpt":"\r National Development Minister Lawrence Wong announced plans to plug ABSD loophole. Source: Wikimedia Commons The authorities are planning to amend the rules to plug a loophole that allows some companies to avoid paying Additional Buyers Stamp Duty (ABSD), by acquiring shares in a company that owns the property, rather\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\/40872"}],"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=40872"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/40872\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=40872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=40872"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=40872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nIn an SGX filing on Monday (16 January), CapitaLand revealed that NHR was responsible for developing The Nassim, a luxurious low-rise condominium located along Nassim Hill in District 10. It presently owns 45 units in the freehold property.
\nThe consideration, which was satisfied entirely in cash, is subject to post-completion adjustment and comprises the estimated net tangible assets value of $138.7 million as at 16 January 2017.
\nIt also takes into account the $407.2 million agreed property value for the 45 units in The Nassim, as well as an assignment of a $272.9 million shareholder\u2019s loan.
\nBased on CapitaLand\u2019s unaudited consolidated financial statements for the nine months ended 30 September 2016, and assuming the sale was effected on 1 January 2016, CapitaLand\u2019s earnings per share would have increased from 17.9 cents to 21.7 cents.
\nHowever, assuming the sale was effected on 30 September 2016, the financial impact on CapitaLand\u2019s net tangible asset per share would not be material.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…CapitaLand sells entire stake in Nassim Hill Realty for 1.6m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"