“We continue to be a dominant real estate player in our key
markets of Singapore, Australia and China, leading with homes
of distinction. We achieved a stellar performance during the year
and we extended our growth platforms to other Asian cities in Thailand, Vietnam, India and Malaysia. Looking ahead, we seek to expand our scale of operations to tap into the growth opportunities
in these new markets.”
Mr Lui Chong Chee
CEO, CapitaLand Residential Limited

In 2006, CapitaLand Residential (CRL) maintained its leadership position with continued product innovation to build a series of premier homes tailored for the lifestyle of its homebuyers. CapitaLand created well-designed homes that offer lasting value for homebuyers across the key markets of Singapore, Australia, and China. During the year, it continued to tap into opportunities in the high-growth Asian markets including Thailand, Vietnam, India and Malaysia.

Singapore
Luxury homes led the way in the Singapore residential market recovery during the year. High-end projects witnessed consistently high volume of sales and price increases. With strong economic recovery and positive buyer sentiments, mid-end developments that are well-located and well-designed also saw strong buyer response.

CapitaLand achieved a stellar performance in Singapore, selling about 950 homes during the year to achieve more than S$1.2 billion in gross sales. The average value per unit was S$1.29 million compared to S$1.24 million in 2005. The company created a new generation of ‘Penthouse Series’ homes at Scotts HighPark, a boutique development marketed exclusively through private previews. In the third-quarter of the year, it launched The Metropolitan Condominium, a mid-end development that featured flexible unit layouts tailored for today’s multi-generation families. Buyer response was overwhelming, with many people queueing days ahead of the launch to get their choice units. With the release of the final phase of RiverGate, CapitaLand achieved a record price for residential developments in the Singapore River area.