CapitaLand's profit up 28.1% to $317m in Q3

Its serviced residence components performed well.

CapitaLand’s net profit rose by 28.1% YoY to $317m.

According to a release, the fair value gains from its Golden Shoe Park in Singapore and Citadines Biyun Shanghai in China as well as portfolio gains from Wilkie Edge in Singapore, CapitaMall Anzhen in China and 60% stake in CapitaLand Vietnam Commercial Fund I performed well.

“CapitaLand’s 3Q 2017 results was anchored by robust PATMI numbers and positive portfolio growth momentum. Year to-date September, our PATMI of S$1.28 billion has already exceeded by 8% the full year 2016 PATMI of S$1.19 billion,” said Lim Ming Yan, president and group CEO of CapitaLand Limited.

Group revenue also rose 9.7% YoY to $1.5b due to higher contribution from development projects in Singapore and higher rental revenue from newly acquired and opened commercial malls and serviced residences.

Part of the CapitaLand Commercial Trust’s recent acquisitions include Asia Square Tower 2 (AST2) which it acquired for $2.09b from US investment management company BlackRock last September.

Also Read

One Sophia sells 30% of units at weekend launch

SLA launches tender to revitalise Tanjong Katong Complex

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit