CapitaLand sells 50% stake in Laguna Garden, Sims Park

Romesh Navaratnarajah11 Jul 2017

CapitaLand logo

The two companies developed the Central Grove and Casafina condominiums in Singapore.

CapitaLand Limited’s wholly-owned subsidiaries have divested their 50 percent stake in Sims Park Pte Ltd (SP) and Laguna Garden Limited (LG) to existing shareholders for $4 million.

In an SGX filing, CapitaLand revealed that SP and LG are property development companies that developed the condominiums known as Central Grove and Casafina respectively, both of which were completed and fully sold.

Prior to divestment, SP and LG raised their respective share capital to $10.8 million and $62.99 million.

“Following the divestment, LG and SP have ceased to be associated companies of CapitaLand,” the group said.

CapitaLand does not expect the transaction to materially affect the group’s net tangible assets or earnings per share for the financial year ending 31 December 2017.


Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email


You may also like these articles

CapitaLand announces key executive appointments

Ronald Tay Boon Hwee appointed as chief executive officer of CapitaLand Singapore. CapitaLand announced on Tuesday (25 April) several key executive appointments aimed at supporting “the next phas

Continue Reading26 Apr 2017

CapitaLand Q1 profit up 77%, helped by bulk sale of Nassim condo

Net profit was boosted by a bulk sale of The Nassim, which contributed S$160.9 million in the quarter. (Photo: CapitaLand) Property giant CapitaLand posted a net profit of S$386.8 million in Q1 201

Continue Reading27 Apr 2017

CapitaLand to launch ‘star buy’ units at Victoria Park Villas from $3.85m

View of one of the semi-detached garden villas at Victoria Park Villas. (Photo: CapitaLand) The showflat of Victoria Park Villas, a luxury landed housing project in District 10, is reopening this w

Continue Reading19 May 2017