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January
• Official launch of Eureka Office Fund, the first Singapore-dollar
denominated wholesale property fund.
• Relaunch of Raffles The Plaza and Swissôtel The
Stamford with a world-record breaking ribbon-cutting ceremony,
which had 3,238 participants cutting a ribbon measuring 5,776
metres.
February
• Announcement of joint venture between PREMAS International
and Cushman & Wakefield to form Cushman & Wakefield
PREMAS, the first truly integrated real estate services business
in China.
• Placement of 36.365 million new ordinary shares at A$1.65
per share, raised A$60 million.
March
• Clinched contract, by Raffles International, to manage
two deluxe hotels in Turkey in the cities of Izmir (353 rooms)
and Bursa (174 rooms).
• Secured a 15-year headlease by Ascott, for the 80-unit
St Marks property in London, for corporate leasing.
• Issue of S$380 million principal amount of CapitaLand
convertible bonds due 2007.
April
• Won Building and Construction Authority's Construction
Excellence Awards 2002 for Capital Tower and Woodsvale.
• Launch of The Waterina, a freehold condominium along
Guillemard Road. It was the second best-seller in Q2, in terms
of units sold.
• Acquired majority stake in a 108,011 square-metre residential
site in Changning district, Shanghai. About 2,000 units can
be built on the site.
• Won three awards, by Raffles International, at the World
Gourmet Summit.
• Divestment of 95% stake in PT Amethyst Wahyu for US$25
million (S$45.7 million) and 51% stake in PT Pakuwon Amethyst
for US$1.8 million (S$3.3 million).
• Divestment of stake in Suzhou Taihu Chungten Real Estate
Development Co., Ltd for RMB 26.4 million (S$6.3 million).
• Joint venture formed between Ascott and Mitsubishi Estate
Co Ltd, one of Japan's largest developers, to own, manage and
develop serviced residences in Japan.
May
• Launch of The Shelford condominium with an "Education
Matters" scheme, which offered a rebate to homebuyers with
children studying in selected neighbouring schools.
• Divestment of Ascott's freehold site in York Road, London,
for S$11.6 million profit, in line with Ascott's strategy to
focus on its core serviced residence business.
• Acquisition of majority stake in Plot 9-1 at Luwan, a
choice 4,998 square-metre site in Shanghai, for the proposed
development of a prime, Grade A 20-storey office tower by 2005.
June
• Sale of Ascott's stake in Somerset Grand Shanghai serviced
residence and a plot of land in Shanghai as part of the restructuring
of core assets for higher capital productivity.
• Divestment of Costa Sands, East Coast & Costa Sands,
Pasir Ris, by Ascott, for S$10.9 million.
• Raffles Hotel Singapore listed in the Superior Deluxe
Category of the Official Hotels Guide 2002.
July
• Successful Initial Public Offering of CapitaMall Trust,
Singapore's first listed real estate trust (REIT). The IPO was
five times subscribed.
• Unveiling of design for landmark AIG Tower in Hong Kong,
by AIG, CapitaLand and Lai Sun Development Company.
• Announcement of joint venture to form Beijing Cushman
& Wakefield PREMAS.
August
• Divestment of Cuppage Terrace by Ascott for S$19 million.
• Investment in hospitality management school by Raffles
International.
• Strategic alliance signed between Raffles International
and Hotel Okura Co.
September
• Launch of the freehold, 211-unit Belmond Green located
along Balmoral Road.
• Launch of Casabella, a freehold development comprising
apartments, townhouses and strata semi-detached units, all sharing
common recreational facilities.
• Delisting of Hind Hotels International Limited from the
Singapore Exchange, following the acquisition of all issued
ordinary shares.
• Acquisition of a 62% stake in a prime residential site
in Chaoyang district, Beijing. The site can accommodate 1,450
units.
• New management contract secured for the 116-unit Olympia
Suites serviced residence in Makati City, the Philippines, making
Ascott the largest serviced residence chain in Manila.
• Agreement made to divest CapitaLand's entire 65% stake
in Premier Health Corporation (M) Sdn Bhd for approximately
S$5.7 million.
• Topping-out ceremony for the US$350 million Raffles City
Shanghai, a prime Grade A office tower with a retail podium,
located opposite the historic People's Square in Shanghai.
• CapitaLand and Raffles Holdings won the SIAS "Most
Transparent Company Awards" for the property and hotel
categories respectively. Ascott was runner-up in the hotel category.
October
• First quarterly results briefing held by CapitaMall Trust
Management Ltd, where a "5% increase in net distributable
income" for CMT unitholders was announced.
• Successful launch of the 913-unit Summit Residences (Chrysanthemum
Park Phase 3) where the 436 units released were almost fully
sold.
• Meeting of the CapitaLand International Advisory Panel
(IAP) to discuss the business strategies and plans of the Group.
November
• Exercised call option to buy issued shares of Robinson
Point Pte Ltd at an expected purchase price of S$193 million.
December
• Official launch of Glentrees, a 176-unit, 999-year leasehold
condominium at Mount Sinai Lane. Its creative architectural
design provided for generous gardens in each home.
• Completion of transaction to securitise the sales receivables
from The Waterina condominium, raising approximately S$198 million.
• Exercised call option to buy issued shares of 268 Orchard
Road at an expected purchase price of S$184 million.
• Entered into a conditional put and call option agreement
to acquire prime suburban IMM Building.
• Agreement entered by Ascott to acquire a 50% interest
in the pan-European serviced residence chain Citadines, making
Ascott a major serviced residence provider across the Asia Pacific
and Europe.
• Ascott was first runner-up in the 29th Singapore Annual
Report Award Competition for the mainboard category. CapitaLand
won a Commendation Award.
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Raffles
the Plaza and Swissotel
The Stamford |
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| The
Waterina |
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| Joint venture
signing: Ascott and Mitsubishi Estate Co Ltd |
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| Launch
of Cushman & Wakefield PREMAS |
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| AIG
Tower design |
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| CapitaMall Trust's
first trading day |
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| Raffles City ShangHai |
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| Citadines Paris
Louvre |
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| Summit Residences |
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