{"id":90384,"date":"2018-06-04T10:41:15","date_gmt":"2018-06-04T03:41:15","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/oxley-leapfrogs-cdl-as-singapores-largest-developer\/"},"modified":"2018-06-04T11:02:57","modified_gmt":"2018-06-04T04:02:57","slug":"oxley-leapfrogs-cdl-as-singapores-largest-developer","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/oxley-leapfrogs-cdl-as-singapores-largest-developer\/","title":{"rendered":"Oxley leapfrogs CDL as Singapore\u2019s largest developer"},"content":{"rendered":"


\nOxley\u2019s executive chairman and CEO Ching Chiat Kwong.
\nOxley Holdings has surpassed City Developments Limited (CDL) as the city-state\u2019s biggest property developer in terms of the number of sellable homes, reported Singapore Business Review.
\nIn fact, Oxley and its joint venture partners are set to build more than 4,000 units with a total gross development value of $5 billion, after they purchased a number of residential sites last year in preparation for the recovery in the housing market.
\nMore: Oxley planning up to 7 S\u2019pore projects for rest of 2018
\n\u201cIt started acquiring sites in mid-2017. Its well-timed acquisitions have given it a considerable land-cost advantage,\u201d said Maybank Kim Eng analyst Derrick Heng.
\nAmong its notable purchases is its joint acquisitions of two en bloc sites \u2013 Rio Casa in Hougang Avenue 7 and Serangoon Ville in Serangoon North Avenue 1 \u2013 \u00adfor $575 million and $499 million respectively.
\nThese strategic purchases now allow Oxley to launch its units at competitive prices given that land costs in Hougang, Serangoon and Bidadari have since increased significantly.
\nAside from that, private home sales have rebounded since 2017, with the majority or 8,500 units sold last year consisting of homes priced between $1 million and $1.5 million.
\n\u201cOur calculations indicate that Oxley\u2019s average selling prices are $1.1 million to $1.4 million, which sit nicely in this range,\u201d Heng noted.
\n\u201cWith improving sentiment in the housing market, we expect developers to sell 12,000 private homes this year, up 13 percent over the 10,600 sold in 2017. We expect Oxley to capture a sizeable part of this demand, which could potentially bump up its market share of completions from 1.7 percent since 2012 to almost 8.0 percent over the next five years,\u201d he added.
\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…Oxley leapfrogs CDL as Singapore\u2019s largest developer<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Oxley\u2019s executive chairman and CEO Ching Chiat Kwong. Oxley Holdings has surpassed City Developments Limited...<\/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-90384","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-nvO","jetpack-related-posts":[{"id":77832,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/oxley-now-holds-the-largest-residential-land-bank\/","url_meta":{"origin":90384,"position":0},"title":"Oxley now holds the largest residential land bank","date":"January 24, 2018","format":false,"excerpt":"\r After a flurry of overseas ventures, Oxley Holdings now holds the biggest residential land bank in Singapore by the number of dwelling units at almost 4,000 units, reported Business Times. This comes after the Singapore-listed developer acquired huge en bloc sites such as Rio Casa and Serangoon Ville via\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":92698,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/oxleys-the-verandah-residences-fully-sold-within-three-months\/","url_meta":{"origin":90384,"position":1},"title":"Oxley\u2019s The Verandah Residences fully sold within three months","date":"June 28, 2018","format":false,"excerpt":"\r Artist\u2019s impression of The Verandah Residences, a 170-unit freehold project whose design is inspired by Singapore\u2019s black and white colonial bungalows.\u00a0 Oxley Holdings has achieved 100 percent sales at The Verandah Residences within three months since its official launch on 7 April. With average unit prices at $1,795 psf,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":69440,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/oxley-raises-12-95m-via-sale-of-treasury-shares\/","url_meta":{"origin":90384,"position":2},"title":"Oxley raises $12.95m via sale of treasury shares","date":"October 19, 2017","format":false,"excerpt":"\r Singapore-listed Oxley Holdings has raised $12.95 million in net sales proceeds through the sale of 22.75 million treasury shares, revealed an SGX filing on Wednesday (18 October). The raised amount will be used by the home-grown property developer with a market capitalization of approximately $1.9 billion for working capital\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":72678,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/from-policeman-to-property-developer\/","url_meta":{"origin":90384,"position":3},"title":"From policeman to property developer","date":"November 23, 2017","format":false,"excerpt":"\r Oxley Holdings CEO Ching Chiat Kwong. Ching Chiat Kwong has juggled many roles in his life. Never one to shy away from taking risks, he took the plunge to become a developer 10 years ago. Today, his company Oxley Holdings is a major property player, both at home and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2017\/11\/Mayfair-Gardens-crop.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":83821,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/oxley-planning-up-to-7-spore-projects-for-rest-of-2018\/","url_meta":{"origin":90384,"position":4},"title":"Oxley planning up to 7 S\u2019pore projects for rest of 2018","date":"March 27, 2018","format":false,"excerpt":"\r Oxley\u2019s executive chairman and CEO Ching Chiat Kwong. Oxley Holdings plans to launch up to seven property projects in Singapore over the next nine months in a bid to take advantage of the ongoing recovery in the private housing market, according to an SGX filing on Monday (26 Mar).\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":90516,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/modest-sales-seen-at-two-new-launches\/","url_meta":{"origin":90384,"position":5},"title":"Modest sales seen at two new launches","date":"June 5, 2018","format":false,"excerpt":"\r Buyers balloting for units at Affinity at Serangoon. (Photo: Oxley Holdings) Two new project launches in the Serangoon area (District 19) reported modest Phase 1 sales over the weekend. Affinity at Serangoon sold 37 percent or 112 of the 300 units released, while The Garden Residences moved more than\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\/90384"}],"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=90384"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/90384\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=90384"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=90384"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=90384"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}