Hong Leong

GuocoLand gets welcome exposure to prime district 9 from acquisition of Pacific Mansion

SINGAPORE (Mar 20): Maybank and CIMB are maintaining their "buy” calls on GuocoLand following news of the developer’s joint en bloc acquisition of Pacific Mansion for a total of $980 million.

See: GuocoLand and Hong Leong win bid to acquire Pacific Mansion for $980 mil, highest in the current en bloc cycle

GuocoLand and Intrepid investments will hold 40% of the development each, with Hong Leong Realty owning the remaining 20%.

Jiak Kim and Fourth Avenue see benchmark bids at tender close

SINGAPORE (Dec 5): The residential sites at Jiak Kim and Fourth Avenue sites saw benchmark prices set for both locations at the close of tenders on Tuesday.

This was achieved despite the government flagging the risk of excessive exuberance in the property market.

In the case of Jiak Kim site, the top bid of $1,733 psf ppr placed by Frasers Centrepoint is the highest unit land price achieved on a per square foot basis for government land sites sold, excluding commercial and white sites.

Amber Park project may sell for up to $2,400 psf when launched: OCBC

SINGAPORE (Oct 9): OCBC Investment Research is maintaining its “buy” call on City Developments Limited (CDL) while raising its fair value estimate to $12.90 from $12.39 previously after factoring in its recent site acquisition as well as firmer residential average selling price (ASP) assumptions.

This comes after the group last week announced it had successfully tendered for the collective sale of Amber Park via its 80%-owned joint venture (JV) with Hong Leong.

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