CapitaLand’s net profit rose 13.6% in Q3

Romesh Navaratnarajah14 Nov 2018

The Nassim Singapore

View of The Nassim condominium project.

CapitaLand’s net profit for the third quarter of 2018 rose 13.6 percent to $362.2 million from $206.3 million in Q3 2017, on account of higher operating profit and gains from asset recycling.

Operating profit for Q3 2018 increased 13.3 percent to $233.7 million, primarily due to contributions from newly acquired and opened investment properties in China, Germany and Singapore.

Revenue, on the other hand, dropped 16.9 percent to $1.26 billion, mainly due to lower contributions from development projects in China and Singapore.

CapitaLand noted that the decline was partially mitigated by higher rental revenue from newly opened and acquired properties in China, Germany and Singapore as well as the consolidation of revenue from CapitaLand Retail China Trust, CapitaLand Mall Trust and Raffles City Singapore Trust with effect from August 2017.

For the first nine months of the year, net profit dipped 0.4 percent to $1.287 billion, while revenue jumped 16.8 percent to $3.978 billion, excluding gains from the sale of The Nassim.

“CapitaLand’s disciplined capital recycling continues to gain momentum. We have divested $4 billion worth of assets and deployed the capital into $6.1 billion worth of new investments to date this year. These include acquisitions to secure a good development pipeline as well as higher yielding assets that are immediately income producing,” said Lee Chee Koon, president and Group CEO of CapitaLand Group.

He revealed that the company is “actively building a resilient and diversified portfolio across asset classes and key geographies” where they have dominant footholds.

In fact, it has expanded into complementary asset segments including the US multifamily asset class – a move which is in line with CapitaLand’s strategy of “maintaining a balance between emerging and developed markets, while targeting an optimal mix between trading and investment properties”.

During the third quarter of 2018, the company acquired a mixed-use site at Sengkang Central, another site where CapitaLand intends to develop the first co-living property in one-north, a prime site in Ho Chi Minh City and two residential sites in Guangzhou.

Home buyers looking for Singapore Properties may like to visit our ListingsProject Reviews and Guides.


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 buys landed housing site in Vietnam for S$81.4mil

CapitaLand is buying a prime site in Ho Chi Minh City for VND1,380 billion (approx. S$81.4 million), with the 60,000 sq m land parcel expected to contain over 100 landed housing when the development i

Continue Reading31 Aug 2018

CapitaLand gets $300m sustainability-linked loan

This is the first and largest sustainability linked credit in Asia's property industry.CapitaLand revealed on Thursday (4 Oct) that it has clinched a $300 million multi-currency sustainability-linked

Continue Reading4 Oct 2018

CapitaLand’s home sales in China hit 2bil yuan

La Botanica in Xi’an is one of four residential developments launched in “Golden September Silver October” season. (Photo: CapitaLand)CapitaLand held four residential launches in China over the

Continue Reading8 Nov 2018