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Left
to right
Ho Kiam Kheong SVP, New Markets, CapitaLand
Residential Limited,
Chen Lian Pang CEO, Southeast
Asia, CapitaLand Residential Limited; CEO, TCC
Capital Land Limited,
Patricia Chia CEO, CapitaLand Residential Singapore
Pte Ltd,
Lui Chong Chee CEO, CapitaLand Residential Limited,
Robert Johnston Managing Director and CEO, Australand
Holdings Limited,
Lim Ming Yan CEO, CapitaLand China Holdings Pte
Ltd |
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“CapitaLand’s
strategic intent is to maintain a dominant presence
in our key markets of Singapore, Australia and
China, even as we continue to extend our global
reach to build additional growth platforms in Asia,
through successful launches, land acquisitions
and strategic partnerships. Looking forward, we
seek to tap into the growth potential in these
regions, and to enhance the recognition of CapitaLand
as a world-class developer of homes, with an international
presence.”
CEO, CapitaLand Residential Limited |
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| In
2007, CapitaLand Residential (CRL) continued to
build premier homes with strong value propositions
for homebuyers across the Asia Pacific. The company
achieved a consecutive year of sterling results
on the back of strong contributions from its key
markets of Singapore, Australia
and China. During the year, CRL also focused on
building upon its presence in high-growth Asian
markets such as India, Thailand and Vietnam, through
a series of successful launches and site acquisitions.
These new markets will provide a complementary
geographic balance to the growth enjoyed by the
company’s
mainstay markets of Singapore, Australia and China. |
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The Singapore residential
market continued to perform well in 2007. CapitaLand
was a pace-setter with a stellar performance for
the year. It sold over 1,400 homes with a sales
value amounting to more than S$3.0 billion. CapitaLand’s
reputation as a developer of premier homes was
sealed with the launch of its joint venture residential
project, The Orchard Residences. Targeted at the
super-luxury segment of the market, The Orchard
Residences set a new
benchmark price in Singapore, achieving S$5,600
per sq ft for a luxury penthouse. CapitaLand also
launched The Seafront on Meyer to overwhelming
response. The 327-unit development, which enjoys
panoramic views of the sea and city skyline, saw
buyers queueing a few days ahead of its official
launch. The condominium was conferred the Green
Mark Gold Plus Award by the Singapore Building and
Construction Authority in recognition of its many
environment-friendly features.
During the year, CapitaLand also signed agreements
to acquire three major sites – Gillman Heights
Condominium, Char Yong Gardens and Farrer Court – through
collective sales. The three sites will add about
4.4 million sq ft of potential gross floor area
to CapitaLand’s landbank for pipeline development.
The company’s healthy landbank of well-located
sites places it in a strong position to cater to
Singapore’s myriad homebuying needs over
the next three to four years, especially in the mid to high-mid segments
of the market. |
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