{"id":71242,"date":"2017-11-08T09:56:07","date_gmt":"2017-11-08T02:56:07","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-profit-up-28-1-in-q3\/"},"modified":"2017-11-08T10:07:24","modified_gmt":"2017-11-08T03:07:24","slug":"capitaland-profit-up-28-1-in-q3","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-profit-up-28-1-in-q3\/","title":{"rendered":"CapitaLand profit up 28.1% in Q3"},"content":{"rendered":"


\nFunan Mall redevelopment that cost $560m, targeted to be completed in Q4 of 2019. (Photo: Capitaland)
\nCapitaLand 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.
\nIt attributed the hike primarily to fair value gains from \u201cGolden Shoe Car Park, the serviced residence component of Funan integrated development in Singapore and Citadines Biyun Shanghai in China, as well as portfolio gains arising from Wilkie Edge in Singapore, CapitaMall Anzhen in China and the 60 percent stake in CapitaLand Vietnam Commercial Fund I\u201d.
\nOperating profit, however, dropped 18.8 percent to $204.5 million from $251.8 million previously, due to the lower handover of China residential projects and the divestment of certain Singapore commercial assets.
\nGroup revenue increased 9.7 percent to $1.507 billion, due to higher contribution from Singapore development projects, higher rental revenue from newly opened serviced residences and shopping malls as well as the consolidation of revenue from CapitaLand Retail China Trust (CRCT), CapitaLand Mall Trust (CMT) and RCS Trust (RCST).
\n\u201cOur active portfolio reconstitution has boosted our results as well as our AUM which stands at $85.0 billion as at end of 3Q 2017,\u201d said CapitaLand president and group CEO Lim Ming Yan.
\nHe revealed that CapitaLand\u2019s $1.28 billion profit for year-to-date September has already surpassed 2016\u2019s full-year profit by eight percent.
\nCapitaLand noted that residential sales in Singapore remained stable with 108 units sold during the period, taking the total number of units sold in the year to September to 293 with a sales value of $1.15 billion.
\n\u201cThis includes units at Cairnhill Nine, which is fully sold as at July 2017, and Victoria Park Villas, which is 86 percent sold as at 30 September 2017,\u201d it said.
\n\u00a0
\nThis article was edited by Keshia Faculin.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…CapitaLand profit up 28.1% in Q3<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Funan Mall redevelopment that cost $560m, targeted to be completed in Q4 of 2019. (Photo:...<\/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-71242","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-ix4","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":71242,"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":62675,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-q2-profit-soars-97-amid-revaluation-gains-divestments\/","url_meta":{"origin":71242,"position":1},"title":"CapitaLand Q2 profit soars 97% amid revaluation gains, divestments","date":"August 3, 2017","format":false,"excerpt":"\r Victoria Park Villas is one of the development projects that contributed to its Q2 revenue. (Photo: Christopher Chitty) CapitaLand saw its net profit surge 97 percent to S$579.3 million in Q2 2017, thanks to higher revaluation gains and divestments. Revenue fell 12.3 percent to S$992.4 million from the previous\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":71242,"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":106875,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-net-profit-drops-7-4-in-q1-2019\/","url_meta":{"origin":71242,"position":3},"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":101234,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitalands-net-profit-rose-13-6-in-q3\/","url_meta":{"origin":71242,"position":4},"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":21921,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitalands-net-profit-sinks-36-6-in-q2\/","url_meta":{"origin":71242,"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\/71242"}],"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=71242"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/71242\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=71242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=71242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=71242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}