{"id":62675,"date":"2017-08-03T10:09:41","date_gmt":"2017-08-03T03:09:41","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-q2-profit-soars-97-amid-revaluation-gains-divestments\/"},"modified":"2017-08-03T10:24:50","modified_gmt":"2017-08-03T03:24:50","slug":"capitaland-q2-profit-soars-97-amid-revaluation-gains-divestments","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-q2-profit-soars-97-amid-revaluation-gains-divestments\/","title":{"rendered":"CapitaLand Q2 profit soars 97% amid revaluation gains, divestments"},"content":{"rendered":"


\nVictoria Park Villas is one of the development projects that contributed to its Q2 revenue. (Photo: Christopher Chitty)
\nCapitaLand saw its net profit surge 97 percent to S$579.3 million in Q2 2017, thanks to higher revaluation gains and divestments.
\nRevenue fell 12.3 percent to S$992.4 million from the previous year, primarily due to lower contribution from Singapore development projects, but partially mitigated by higher contribution from China development projects and higher rental income from newly acquired properties.
\nDevelopment projects that contributed to this quarter\u2019s revenue include Singapore\u2019s\u00a0Victoria Park Villas\u00a0as well as Summit Era in Ningbo and Beaufort in Beijing, China.
\nIn a release, the group revealed that it has divested S$2.37 billion worth of assets to date while deploying \u201cS$2.04 billion to higher yielding ventures across various asset types and geographies\u201d.
\nNew investments include office and retail assets in Greater Tokyo, Japan; Innov Center in Shanghai, China; as well as serviced residence properties including effective stakes in third party operating platforms within China, Australasia and the US.
\nCapitaLand also intends to deploy an additional S$1.64 billion for Golden Shoe Car Park\u2019s redevelopment based on its 90 percent stake of the new integrated development.
\n\u201cWe will continue to reconstitute our portfolio by realising value of optimised assets and to redeploy capital to higher yielding assets and ventures,\u201d said CapitaLand president and group CEO Lim Ming Yan.
\n\u201cThe positive momentum of our mall\u2019s network expansion as well as Ascott\u2019s global platform will provide key data points on the flow of people, businesses and capital for us to make major capital deployment decisions.\u201d
\nThe group\u2019s mall network expansion strategy saw CapitaLand securing six management contracts in China and Singapore, bringing its portfolio to almost 300,000 sq m within a year. Its serviced residence arm, The Ascott, has expanded its portfolio with the addition of 35 properties.
\nThis article was edited by Denise Djong.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…CapitaLand Q2 profit soars 97% amid revaluation gains, divestments<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Victoria Park Villas is one of the development projects that contributed to its Q2 revenue....<\/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-62675","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-giT","jetpack-related-posts":[{"id":21921,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitalands-net-profit-sinks-36-6-in-q2\/","url_meta":{"origin":62675,"position":0},"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":[]},{"id":71242,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-profit-up-28-1-in-q3\/","url_meta":{"origin":62675,"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":106875,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-net-profit-drops-7-4-in-q1-2019\/","url_meta":{"origin":62675,"position":2},"title":"CapitaLand Net Profit Drops 7.4% In Q1 2019","date":"May 6, 2019","format":false,"excerpt":"\r Revenue also declined 23.8 percent to $1.048 billion, mainly due to lower contributions from residential projects.\u00a0 CapitaLand saw its net profit drop 7.4 percent to $295.6 million in the first quarter of 2019, from $319.1 million over the same period last year. The decline was attributed to lower operating\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":79734,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/pearlbank-apartments-sold-to-capitaland-for-728m\/","url_meta":{"origin":62675,"position":3},"title":"Pearlbank Apartments sold to CapitaLand for $728m","date":"February 13, 2018","format":false,"excerpt":"\r CapitaLand intends to redevelop the site into a high-rise residential development comprising around 800 units. (Photo: Colliers International) Pearlbank Apartments, a 37-storey development in Outram, has been sold via private treaty to CapitaLand for $728 million, following the close of its collective sale tender on 19 December 2017, revealed\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":95643,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-revenue-up-35-3-on-higher-residential-sales-in-china\/","url_meta":{"origin":62675,"position":4},"title":"CapitaLand revenue up 35.3% on higher residential sales in China","date":"August 8, 2018","format":false,"excerpt":"\r CapitaLand is one of the largest property companies in Asia. CapitaLand\u2019s revenue surged 35.3 percent year-on-year to $1.34 billion in Q2 2018, while net profit increased 4.4 percent to $605.5 million, according to an SGX filing on Wednesday (8 Aug). The strong growth in revenue is attributed to higher\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":62675,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/62675"}],"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=62675"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/62675\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=62675"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=62675"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=62675"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}