{"id":95643,"date":"2018-08-08T10:14:49","date_gmt":"2018-08-08T03:14:49","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-revenue-up-35-3-on-higher-residential-sales-in-china\/"},"modified":"2018-08-08T11:03:07","modified_gmt":"2018-08-08T04:03:07","slug":"capitaland-revenue-up-35-3-on-higher-residential-sales-in-china","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-revenue-up-35-3-on-higher-residential-sales-in-china\/","title":{"rendered":"CapitaLand revenue up 35.3% on higher residential sales in China"},"content":{"rendered":"


\nCapitaLand is one of the largest property companies in Asia.
\nCapitaLand\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).
\nThe strong growth in revenue is attributed to higher sales of residential units in China. In Singapore, the group sold a total of 37 units in Sky Habitat with 33 units remaining unsold in the city-state. The Strata Title Board also issued a Sales Order on 1 August 2018 for the collective sale of Pearl Bank Apartments.
\nMore: Pearlbank Apartments Sold To CapitaLand For $728m
\nOver in China, more than 1,486 units with a combined value of 2.2 billion yuan were taken up due to the completion of phases at New Horizon in Shanghai, Citta Di Mare in Guangzhou and Century Park West in Chengdu during the second quarter.
\nAs of 30 June, CapitaLand found buyers for 8,000 units in the country collectively worth 16.2 billion yuan, but these have not yet been handed over. More than half of these properties are expected to be delivered in the second half of 2018.
\nIn addition, the purchase of a prime 32ha mixed-use site in Chongqing provides the developer with a landbank for retail and commercial space as well as 2,100 residential units.
\nIn Vietnam, CapitaLand sold 524 residential units with a combined value of S$186 million in the second quarter. Of this, 456 (S$77 million) have been handed over primarily at Vista Verde and Seasons Avenue.
\nOut of the 2,680 yet-to-be completed units in the country, over 30 percent are targeted to be delivered and recognised this year. The group has also acquired a 1.0ha site in Hanoi, Vietnam for a future project.
\nMoreover, the surge in revenue was driven by the acquisition and opening of properties in Singapore, China and Germany, as well as the consolidation of revenue from CapitaLand Mall Trust (CMT), CapitaLand Retail China Trust (CRCT) and RCS Trust (RCST) effective in August 2017.
\n\u201cIn Q2 2018, we divested Twenty Anson and Sembawang Shopping Centre in Singapore, and at the same time, reallocated capital to a prime mixed-use site in Chongqing, China and Gallileo, our second Grade A office in Frankfurt, Germany,\u201d said CapitaLand Group President & Group CEO Lim Ming Yan.
\n\u201cWe have also expanded our operating platforms, with two new retail management contracts in Guangzhou and Chengdu this quarter, and a robust growth of 5,348 units in our lodging platform Ascott through management contracts and strategic partnerships, moving us closer towards the 2023 target of 160,000 units,\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…CapitaLand revenue up 35.3% on higher residential sales in China<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

CapitaLand is one of the largest property companies in Asia. CapitaLand\u2019s revenue surged 35.3 percent...<\/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-95643","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-oSD","jetpack-related-posts":[{"id":71242,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-profit-up-28-1-in-q3\/","url_meta":{"origin":95643,"position":0},"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":79734,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/pearlbank-apartments-sold-to-capitaland-for-728m\/","url_meta":{"origin":95643,"position":1},"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":21921,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitalands-net-profit-sinks-36-6-in-q2\/","url_meta":{"origin":95643,"position":2},"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":101029,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitalands-home-sales-in-china-hit-2bil-yuan\/","url_meta":{"origin":95643,"position":3},"title":"CapitaLand\u2019s home sales in China hit 2bil yuan","date":"November 8, 2018","format":false,"excerpt":"\r La Botanica in Xi\u2019an is one of four residential developments launched in \u201cGolden September Silver October\u201d season. (Photo: CapitaLand) CapitaLand held four residential launches in China over the past month, in which it sold a total of 1,506 units worth 2 billion yuan ($396.7 million) \u2013 marking the company\u2019s\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":44316,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitalands-q4-earnings-surged-by-73-8\/","url_meta":{"origin":95643,"position":4},"title":"CapitaLand\u2019s Q4 earnings surged by 73.8%","date":"February 16, 2017","format":false,"excerpt":"\r Artist\u2019s impression of D1MENSION, a new residential project being developed by CapitaLand in Vietnam. Source: CapitaLand CapitaLand\u2019s net profit soared 73.8 percent year-on-year to S$430.5 million in the fourth quarter of 2016 due to better operating performance, leading to an 11.7 percent increase in the full-year figure to S$1.19\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":97018,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-buys-landed-housing-site-in-vietnam-for-s81-4mil\/","url_meta":{"origin":95643,"position":5},"title":"CapitaLand buys landed housing site in Vietnam for S$81.4mil","date":"August 31, 2018","format":false,"excerpt":"\r CapitaLand is buying a prime site in Ho Chi Minh City for VND1,380 billion (approx. S$81.4 million), with the 60,000 sq m land parcel expected to contain over 100 landed housing when the development is completed by 2021. This marks the Singapore-listed property developer\u2019s third acquisition in August 2018\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\/95643"}],"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=95643"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/95643\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=95643"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=95643"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=95643"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}