08 Nov '17, 3am

CapitaLand profit up 28.1% in Q3 - PropertyGuru Singapore

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 value gains from “Golden Shoe Car Park, the serviced residence component of Funan integrated development in Singapore and Citadines Biyun Shanghai in China, as well as portfolio gains arising from Wilkie Edge in Singapore, CapitaMall Anzhen in China and the 60 percent stake in CapitaLand Vietnam Commercial Fund I”. Operating profit, however, dropped 18.8 percent to $204.5 million from $251.8 million previously, due to the lower handover of China residential projects and the divestment of certain Singapore commercial assets. Group revenue increased 9.7 percent to $1.507 billion, due to ...

Full article: https://www.propertyguru.com.sg/property-management-news/...

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CapitaLand profit up 28.1% in Q3

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