SINGAPORE, April 26 Singapore's CapitaLand Ltd
reported on Friday a 41 percent rise in first-quarter
net profit and said it was cautiously optimistic about the
housing market in the city-state despite the latest round of
property cooling measures.
The biggest property developer in Southeast Asia posted net
profit of S$188.2 million ($151.9 million) for the three months
ended March, up from S$133.2 million a year earlier.
CapitaLand said it achieved strong residential sales in
Singapore and China. For the quarter, the company sold 544
residential units in Singapore with total sales value of S$1.3
In China, it sold 955 residential units valued around S$400
million, it said.
CapitaLand said last month it was conducting a strategic
review of its 59.3 percent stake in Australand Property Group
and had appointed J.P.Morgan as its financial advisor.
($1 = 1.2391 Singapore dollars)
(Reporting by Eveline Danubrata; Editing by Daniel Magnowski)