Hong Leong, Far East and Frasers lead property market poll

Hong Leong, Far East and Frasers lead property market poll
Dec 18, 2009 - PropertyGuru.com.sg

Hong Leong Group, Frasers Centrepoint and Far East Organization have been the most active companies in the local property market this year.

The three companies most likely gained over $6 billion from selling more than 5,000 private homes, mostly from mid-tier and mass-market sites.

This data came from a quick poll by several developers. To highlight the results, there is a double-counting of sales in some cases due to several joint venture projects. However, not all the figures are exact.

Nevertheless, the three developers emerged as leaders. As of Tuesday this week, subsidiaries linked to Hong Leong – Hong Leong Holdings, TID and City Developments (CDL) – had sold nearly 2,122 units worth $2.39 billion in all.

Hong Leong Holdings alone sold 325 homes while TID sold 297 units. CDL sold about 1,500 homes worth $1.86 billion, including the launch of Hundred Trees, The Arte and Livia. Sales from a venture project, The Gale, are included in figures for both Hong Leong Holdings and CDL.

Far East sold 1,932 homes, valued at more than $2.34 billion. The company launched 11 projects in 2009. The five projects that gave the highest revenue are Mi Casa, Cyan, Vista Residences, Silversea and Waterfront Waves.

Included in the figures of Far East are sales from joint projects with Frasers Centrepoint, Orchard Parade Holdings and Wing Tai.

Frasers Centrepoint alone became a big winner with 1,852 units sold worth $2.17 billion. The output came from projects such as Caspian, 8@Woodleigh Woodsville 28 and Martin Place Residences. The figures of Frasers Centrepoint also include the sales from Waterfront Waves and Waterfront Key.

Coming behind the three companies is UOL, which sold 1,009 units for $1.2 billion, followed by CapitaLand with 535 homes sold worth $1 billion.