CapitaLand pays S$2. 7 , 000, 000 extension bill for The Interlace

CapitaLand yesterday reported it has paid out an extension bill for unsold units within the Interlace residence while confirming a 30. 4 % on-year escalation in first fraction net benefit to S$218. 3 , 000, 000.

The property builder said they have paid S$2. 7 , 000, 000 in extendable charges pertaining to the 127 unsold sections, or S$21, 000 (S$7 per block foot) for a per system basis. Sections in the one particular, 040-unit residence along Lager Road must be sold by means of March 15, 2016, and get now accepted a six-month extension.

Coders face possibilities extension rates of near to S$100 million for unsold private home units in 2016, said Real Estate Developers’ Association of Singapore (REDAS) president Augustine Tan in March.

CapitaLand said it has sold 89 per cent of its released residential tasks, adding that 55-unit The Nassim and the 109-unit Victoria Park Cottages will be ready for launch during the first half of this year.

Additionally, it received strong interest for Cairnhill 9, with 193 out of 268 models sold as of April 14.

The programmer sold 222 residential models worth S$506 million in Singapore during the first 1 / 4, compared to 69 units really worth S$197 million during the same period a year earlier. Nonetheless, it desires the impact from the property air conditioning measures to keep to consider on the market.

Looking ahead, president and CEO Lim Ming Yan said the group will look for attractive investment opportunities to develop its repeated income and also to maintain development gains from trading resources.

He added that CapitaLand will maintain its focus on the core marketplaces of Singapore and China, growth marketplaces of Vietnam and Indonesia, as well as the global platform of its serviced residences business.