February Property Market Review

[Feb - 3 - 2017 ] City Developments Limited (CDL) said its wholly owned subsidiary Trentworth Properties is buying the 0.65 hectare Ransomes Wharf site, in Battersea, from Curatus Trust, for £58 million about SGD72.3million. It plans to turn the land into a luxury residential project with an estimated gross development value of £222 million.

The site is west of Albert Bridge in Battersea's creative quarter, on the south bank othe River Thames, and occupiers include Foster + Partners Architects, Royal College of Art and Vivienne Westwood, CDL said.

[Feb - 06- 2017 ] Far East Consortium said it has completed acquisition of Sheraton Mirage Resort project at Gold Coast Australia together with Star Entertainment Group and Chow Tai Fook Enterprises. Its equity contribution is AUD20million for a 25% interest in the project

[Feb -13 - 2017 ] Yuexiu Transport Infrastructure, China Guangdong province's biggest infrastructure builder, reported profit attributable to shareholders rose by 72.7% to RMB919 million for the year of 2016

[Feb - 15 - 2017] CapitaLand full year net profit rose 11.7% year on year to SGD1.19billion in 2016 on the back of improved operating performance

[Feb - 23 - 2017] New World Development reported interim net profit up 31.4% to HKD4.3 bn(USD559mn) in financial year ended December 2016

[Feb - 27 - 2017] Yangtze River Delta-focused developer Future Land Development reported 2016 net profit attributable to equity holders grew 34.3% year on year to RMB1.38 billion for the financial year ended December

[Feb - 28 - 2017] Sun Hung Kai Properties, Hong Kong’s largest property developer by market capitalisation, reported net profit boost up 40% to HKD20.7 billion for the first half of the financial year ended December 2016. Revenue increased 32% to HKD46.3 billion

[Feb - 28 - 2017]Casino operator Galaxy Entertainment, chaired by HK tycoon Lui Che-woo, reported net profit for 2016 rose 51% to HKD6.3 billion (USD812 million), revenue rose 4% to HKD52.8 billion during the financial year ended December.

[Feb - 5 - 2017] Shimao Group's contracted sales reached RMB5.11 billion in January, helped by new project launch, up 58% from the same month in 2016