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CapitaLand, Southeast Asia’s largest developer by market value, is buying a Singapore property from Ascott Residence Trust for $359 million and plans to redevelop the site into a residential project and a serviced residence with a hotel license.
The new project will have a 60 percent residential component and 40 percent is for serviced residences.
CapitaLand plans to divest the serviced residence part of the project back to Ascott Residence Trust for $405 million in 2017.
CapitaLand has announced a JV with a Abu Dhabi corp to form Capitala. Capitala's first project will be on a site near the Zayed Sports Stadium and it will be launched in the next few weeks. AD is experiencing very fast population growth and has far more oil than Dubai. It is also building trophy projects like a Guggenheim Museum - unbelieveable that it could secure this Museum.
I seems to be having prob posting in this forum.
OK, juz testing.
Hi Blastoff,
You're right. The low volume is probably due to the holiday season. Wait till next year to see what happens.
another wave coming, the credit card woe and retail sale for dec 07 not so impressive.
Dear singaporegal, the volume may be low due to the festive season & half day trading. In your opinion, what is a good price to go in?
Today's gain may not be sustainable. The recent sell down of Capitaland had large volumes (>15 million on average).
In comparison, today's volume is only 4 million. Better to remain cautious.
Capitaland has been falling since October. Good time to go in now?
Recovery continues .....
Very well supported at this level ....
Poised for a further upward move .....
JPMorgan - Treading cautiously in Russian logistics - ALERT
? Moving cautiously in Russian logistics tie-up. CapitaLand has announced that post due diligence on its proposed investment in a major Russian logistics property developer Eurasia Logistics it is now only going to take up an initial 10% stake in the completed and stabilized assets to be constructed by Eurasia. By the end of 2007, Eurasia will have completed 700,000sqm of Class A logistics warehouses in Moscow and Ekaterinburg. According to CapitaLand, Eurasia Logistics is planning to build a network of 20 Class A industrial parks by 2010 with over 5 million sqm across key cities in Russia, Ukraine and Kazakhstan.
? Investment mainly in real estate funds or REIT management. CapitaLand's earlier announcement in Apr 07 about the tie-up with Eurasia Logistics had CapitaLand proposing to take a 10% stake in the parent company level. Not only has this now turned into an investment at the property level, but also CapitaLand will make the investment only when the properties are completed and stabilized. The small size of CapitaLand's proposed stakeholding in the stabilized assets suggests to us that CapitaLand's involvement revolves mainly around the group's expertise in real estate funds and REIT management, and that at this stage post the due diligence CapitaLand does not yet feel confident of moving too far up the value chain in Russia.
? Upcoming milestones at the FY07 results at end Jan 08. CapitaLand's real estate AUM amounts to S$16.3bn as at end Sep 07, with its stated target of S$18bn by end of 2007 likely to be achieved in part due to revaluation uplifts in the group's REITs' and its own portfolio. We expect the group to release an update to this AUM target in its FY07 results at the end of Jan 08. With over S$5bn of surplus capital still on our estimates, we also anticipate the possibility that the group declares a special dividend (the group has paid a special dividend in each of the last 3 years).