Today's news selection contains the latest real estate related storys. Do you own a real estate/property/finance blog or news site? Send the URL to news@agent.sg so our editors can use them as sources.
The absence of gains from divesting Westgate to CMT dragged down profits. CapitaLand's profit after tax and minority interests (PATMI) fell 7.8% YoY to $333.93m in Q3 2019, the company announced. Revenue jumped 37.1% to $1.73b over the same period.
In 9M 2019, profit slipped 6% to $1.21b whilst revenue dipped 3% to $3.86b.
Also read: CapitaLand profits down 5.3% to $875.4m in H1
The fall in profits for the quarter was mainly attributed to the absence of a one-time gain of $99.2m from divesting Westgate to CapitaLand Mall Trust (CMT) in August 2018.
This was offset by a growth in PATMI by 18.8% to $277.6m, mainly from consolidating Ascendas Singbridge’s results, as well as receiving higher contributions from residential projects in China and one-off fee income from a Vietnam project.
Real estate related news stories from Singapore
- Kampong Glam, Serangoon Gardens shophouses up for sale at $6.9m and $8.5m
- GIC joint venture acquires A-grade office building in Sydney
- CapitaLand, CDL preview Sengkang Grand Residences venture
- GIC, Charter Hall JV acquires A-grade office building in Parramatta, Sydney
- ‘Hayven’: grand Noosa estate of extraordinary scale
- How to Buy Good Quality Properties
Asian property news round up
- HK's property demand remains strong despite protests
- Much-needed shot in the arm for Malaysian property market
- Hong Kong property investors turn to SE Asia
- Construction giants report bad business results
- Increasing M&A deals in real estate despite risks
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Previous news selection
Singapore stocks: STI resumes Monday afternoon at 3,235.15, up 0.18% on day
About Agent.sg Daily Property News Selection
Agent.sg's Daily Property News Selection brings you the most important property market news in and around Singapore. We list the best articles on real estate development, property investment and on the property listing market on a daily basis - whoever stays out, misses out.
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