Billionaire developer Kwek Leng Beng said last year that skyrocketing prices and restrictive rules made buying residential land in Singapore “suicidal.” That hasn’t stopped international developers from rushing in.
BlackRock Inc., the world’s biggest money manager, is helping to drive a revival in Japan’s property market as investors bet Prime Minister Shinzo Abe’s plan to sustain economic growth will boost real estate returns.
Keppel REIT, the second-biggest office property trust in Asia excluding Japan, is seeking buyers for its 30-story Prudential Tower in Singapore’s financial district, according to two people familiar with the matter.
Singapore’s developers posted the worst performance on the benchmark Straits Times Index this year after recording the biggest gains in 2012 as property curbs drove home sales lower and slowed price gains.
Keppel Land Ltd., the property developer partly owned by the world’s largest builder of oil rigs, had its biggest gain in three weeks in Singapore trading after profit rose 70 percent on increased sales of apartments.
Keppel Land Ltd., the property developer partly owned by the world’s largest builder of oil rigs, surged to a two-month high after reporting a 47 percent increase in fourth-quarter profit and a record payout.
Keppel Land Ltd. is marketing dollar- denominated notes, its first public bond sale in the U.S. currency since 1995, as yield premiums for Asian issuers headed for the biggest annual drop in three years. Asia debt risk rose.
The following companies may have unusual price changes in Asian trading tomorrow. Stock symbols are in parentheses, and share prices are as of the latest close. The information in each item was released after markets shut unless stated otherwise.