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AUGUST
Sealed joint venture to redevelop site into a prime office building in London's Moorgate.
Announced first residential investment in Japan to develop a prime Shibuya-ward site with Tokyo-listed Mitsubishi Estate. Also signed partnership agreement to explore joint business opportunities.
Launched SunHaven, a 295-unit development featuring a Caribbean resort theme at Upper Changi Road East. The project was 85% sold by end of the year.
Worldwide launch of Amrita, a luxury spa brand by Raffles International.
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SEPTEMBER
Embarked on first commercial investment in Japan with the acquisition of 11 floors of office space in Shinjuku Square Tower, Tokyo.
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Raffles L'Ermitage Beverly Hills
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Somerset Lake Point
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OCTOBER
EGM held with majority shareholders voting in favour of the merger between DBS Land and Pidemco Land – to form CapitaLand. Shareholders of The Ascott and Somerset Holdings also approved the merger of the two listed subsidiaries.
Four Seasons Hotel Canary Wharf officially opened at Canary Riverside along River Thames.
Sold land rights to Canary Riverside Phases 2 and 3, and increased stake in Canary Riverside Phase 1 to 62.5%.
Raffles International attained milestone by expanding into USA with acquisition of the L'Ermitage Beverly Hills.
The Ascott Group invested in Somerset Lake Point, a serviced residence project in Bangkok's central business district.
pFission entered into a MOU to acquire 18.2% stake in icFox International, a global construction hub.
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NOVEMBER
Trading commenced for shares of CapitaLand and The Ascott on the mainboard of Singapore Exchange. DBS Land and Somerset Holdings were de-listed on the same day.
Officially launched CapitaLand and unveiled its corporate logo.
pFission entered into a partnership to develop and operate the first industry-led office e-hub to link office tenants, property managers and property owners.
pFission launched property vortal Propbuzz.com.
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DECEMBER
Completed review of CapitaLand's hotel strategy. Decision was made to hold Raffles Holdings as a Strategic Business Unit.
pFission acquired 30% stake in yLez Technologies, a company with core competencies in wireless solutions technology.
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