Mr Ang Wee Gee, CEO of Keppel Land, was conferred the prestigious Shanghai Magnolia Award by Mr Zhang Xiaosong, Director of the Foreign Affairs Office of Shanghai Municipal Government, at the Jing An Shangri-La Hotel on 6 September 2017. The award was presented by the Shanghai Municipal Government in recognition of foreigners for their outstanding contribution to Shanghai’s economic and social development, as well as its foreign relations.
On 18 August 2017, Mr Ang Wee Gee, CEO of Keppel Land, accompanied by Mr Ben Lee, President of Keppel Land China as well as other senior management of the Company, called on Mr Zhao Yongfeng, District Chief of Shanghai’s Hongkou District. During the meeting, Mr Ang shared Keppel Land’s future plans for SOHO Hongkou, a premium office and retail mixed-use development recently acquired by Keppel and a co-investor.
Safety is a core value at Keppel Land and forms an integral part of its business operations. The Company is committed to creating an incident-free workplace for all its stakeholders.
Saigon Centre, a distinctive landmark in Ho Chi Minh City’s (HCMC) CBD, has been named the best mixed-use development in Vietnam at the Asia Pacific Property Awards 2017. The awards ceremony was held in Bangkok, Thailand, on Friday, 26 May 2017.
Armed attackers stormed into the lobby of Bugis Junction Towers on 11 June 2017 and forced their way into tenanted premises. The Singapore Police Force (SPF) was alerted to the situation and reacted swiftly to handle the attackers while officers from the Singapore Civil Defence Force (SCDF) arrived to render assistance to casualties.
Mr Loh Chin Chua, CEO of Keppel Corporation and Chairman of Keppel Land, presented the Keppel Group’s strategic developments and performance at Keppel Corporation’s 2Q and 1H 2017 results conference and webcast on 20 July 2017. Across Borders reproduces highlights of his speech on the property business.
Keppel REIT, through its wholly-owned sub-trust, announced on 29 June 2017 that it had entered into an agreement with Australia Postal Corporation to acquire a 50% stake in a premium office tower to be developed at 311 Spencer Street in Melbourne. The acquisition is for an aggregate consideration of A$347.8 million or approximately S$362.4 million.
Harnessing synergies across the Group, Keppel Land China and Alpha Investment Partners (Alpha) announced on 26 June 2017 a partnership with a co-investor to acquire an office and retail mixed-use development, SOHO Hongkou in China, for approximately US$525 million.
Keppel Data Centres Holding (KDCH) has injected its interest in Keppel DC Singapore 4 (KDC SGP 4) to Thorium DC, a 70-30 joint venture company between the Alpha Data Centre Fund (Alpha DC Fund) and KDCH, for a consideration of approximately S$170 million. Alpha DC Fund, which is managed by Alpha Investment Partners, the private fund management arm of Keppel Capital, will hold a 70% stake in the data centre. KDCH is a 30-70 joint venture between Keppel Land and Keppel Telecommunications & Transportation.
Keppel REIT achieved distributable income of $95.5 million for 1H 2017, 10.7% lower year-on-year mainly due to the absence of income from 77 King Street in Sydney which was divested in January 2016, lower one-off income in 1H 2017, lower income contribution from Bugis Junction Towers and the absence of other gains distribution.