Keppel Land continues to be recognised as a leader in sustainability and product excellence.
Keppel Land and its joint venture partner, Wing Tai Land, have been awarded the tender for a prime residential site in Serangoon North Avenue 1 by the Urban Redevelopment Authority (URA) for a total consideration of $446.28 million. The partners plan to develop over 600 homes on the 1.7-hectare site, which is situated within a mature residential estate.
Mr Loh Chin Hua, CEO of Keppel Corporation and Chairman of Keppel Land, presented the Keppel Group’s strategic developments and performance at Keppel Corporation’s 3Q and 9M 2017 results webcast on 19 October 2017. Across borders reproduces highlights of his speech on the property business as well as the collaboration between Keppel Land and Keppel Urban Solutions, a new business unit, for Saigon Sports City in Vietnam.
Keppel REIT has delivered stable distributable income of $142.5 million for 9M 2017. The decrease was attributable to the absence of income from 77 King Street in Sydney which was divested in January 2016, lower one-off income received and the absence of other gains distribution. Distribution per Unit (DPU) of 1.40 cents was declared for 3Q 2017, bringing total DPU for 9M 2017 to 4.27 cents.
Keppel Land China has divested its entire 100% interest in Keppel Lakefront (Nantong) Property Development Co Ltd (KLNPD) to Nantong Wanjun Commercial Information Consultancy, a subsidiary of China Vanke, for a total consideration of RMB 1,430 million (approximately $292 million).
Keppel REIT has appointed Mr Alan Rupert Nisbet as an independent non-executive director with effect from 1 October 2017.
Keppel Land China launched the Ji Xue Tang mobile e-learning platform, allowing Keppelites to learn on the go
Keppel REIT has commenced construction on 18 August 2017 for its newly acquired premium office tower in Melbourne, Australia. Located at 311 Spencer Street, the Grade A office tower will be the headquarters for the Victoria Police from 2020 after the building’s completion in the fourth quarter of 2019.
Keppel Land’s new office in Ho Chi Minh City, Vietnam, features vertical gardens and open spaces, providing staff with a more comfortable and positive working environment
After more than 26 years of service, Mr Ang Wee Gee, CEO of Keppel Land, will be leaving the Company on 31 December 2017 to pursue other interests. Mr Loh Chin Hua, CEO of Keppel Corporation, who is concurrently Chairman of Keppel Land, will assume the role of Executive Chairman of Keppel Land with effect from 1 January 2018. The Company is currently evaluating possible candidates to assume the role of CEO of Keppel Land.