Lend Lease to pay $618m for Singapore site

Lend Lease Group (LLC) said, along with one of its managed funds the Asian Retail Investment Fund (ARIF), they have agreed to pay $618 million for the Jurong Gateway Road site in Singapore. The group made the announcement after they outbid a rival for the large scale mixed use suburban development by ...

Stockland forecasts drop in dividend

Stockland (SGP) announced an estimated dividend for the six months to 30 June 2010 of 10.8c per share. The property development company said this equates to a full-year dividend of 21.6c per share. Stockland paid out a dividend of 17c in the second half of last year and a full ...

Goodman to build assets in Europe

Goodman Group (GMG) said it has established two new “co-investment vehicles” with CB Richard Ellis Realty Trust (CBRE) in both the UK and Europe. Goodman Group said the vehicles would invest in logistics development opportunities, however on just an 80/20 split, mostly held by CBRE. Goodman said the UK co-investment vehicle ...

AVJennings to sell contract building division

AVJennings Limited (AVJ) said it has entered into a conditional contract to sell its contract building division to the Japanese listed company, Sekisui House Limited. The Australian residential development company said the arrangement would also see the two companies form an alliance around land and the use of the AVJennings ...

CDI announces estimated distribution

Challenger Diversified Property Group (CDI) estimated a distribution of 2.15c per unit for the six months ending 30 June 2010. The group also said that after completing valuations across its entire property portfolio it expects an uplift in values of around 2% with strong increases in properties with long leases ...

Stockland picks 530 lots for $23.5m

Stockland Group (SGP) has purchased a 54-hectare parcel of land in south-east Queensland for $23.5 million. The land, around 35 kilometres south of Brisbane CBD, will add another 530 lots to Stockland’s interest in the area, bringing it to a total of 1,600. "The project would have an end value of around $210 ...

Westfield confirms distribution forecast

Westfield Group (WDC) reconfirmed the group’s 2010 distribution forecast of 64c per share, based on a payout level of between 70% and 75% of operational earnings. Chairman, Frank Lowy, also said in his address to members at the AGM, that the company was now seeing improvement in retail sales performance ...

Goodman signs MoU in China

Goodman Group (GMG) said it has signed a Memorandum of Understanding with the Langfang Municipal Government to participate in the development of a business and logistics hub in northern China. The group expects to deliver the project over the next seven years and receive a fee for service role. CEO, ...

Stockland on track for record home sales

Stockland (SGP) said this morning that it was on track to achieve record residential sales this financial year. The property developer also reaffirmed its FY10 earnings guidance of 20c per share. Speaking at an investor update this morning, Stockland said it had achieved around 5,000 net deposits through to the end ...

Goodman launches new fund with CPPIB

Goodman Group (GMG) and the Canada Pension Plan Investment Board (CPPIB) launched a new fund known as the Goodman Australia Development Fund (GADF). Goodman said the new fund would have an initial equity commitment of $250 million with a target gross asset value of approximately $400 million. The group said the ...

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