In Q2 2017, net profits for CapitaLand went up to S$579.3 million, a whopping surge of 97 percent. Thanks to divestments in the investment and higher gains from revaluation.
Revenue collection has gone down by S$992.4 million, a 12.3 percent drop from the revenue collected in last year. One of the reasons for the drop in revenue is pointed at the staggering real estate market in Singapore. Interestingly, the increment in Chinese development projects and high rental value in the newly acquired properties has somewhat mitigated the drop in the revenue.
Some of the development projects that have contributed to the revenue collection in this quarter are Beaufort in the Chinese capital Beijing, Victoria Park Villas in Singapore and Summit Era in Ningbo.
A press release from CapitaLand revealed that until now the real estate group has stripped assets worth S$2.37 billion, and has invested S$2.04 billion in high yield ventures in various locations.
Some of the new investments from CapitaLand are Innov Center in Shanghai, China and office and retail developments in Greater Tokyo, Japan. The group has also put money in third party operating platforms within the US, Australasia, and China, basically in serviced residential properties.
CapitaLand is also thinking to invest additional S$1.64 billion in the redevelopment of Golden Shoe Car Park. The company already has 90 percent stake in this new integrated development project.
According to Lim Ming Yan, CapitaLand president, and group CEO, CapitaLand understands the value of optimized assets, therefore, it will continue to finance on the high yielding ventures and assets.
“The positive outcome from the expansion of our malls’ network and Ascott’s global platform has helped us to understand where we should put our money,” he says.
CapitaLand’s strategy of expanding mall network and securing of six management contracts in Singapore and China has added almost 300,000 sq m in its portfolio just in one year. The Ascott, CapitaLand serviced residence arm, has expanded by adding 35 properties in its portfolio.
One proof of the credibility of Capitaland Development is the Victoria Park Villas. It is a landed property development that can simply be found at Coronation Road of District 10 , Singapore. A 22 years tenure and 2018 TOP.
Victoria Park Villas dominates an area over 37, 000 sq meters. It is proud of its 109 units, either bungalows or semi-detach to choose from. Expect a two floors storey with a bonus basement and an attic.
Victoria’s Park Villas accessibility is the most impressive feature it got because it is with in the proximity of Farrer Road, Farrer MRT, Kah KeeMRT, Bukit Timah Road and Expressway of Pan Island. Grab now and be future worry free! This is a sure and dependable investment.