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CapitaLand Limited
Annual Report 2015
Overview
Sustainability
Business
Review
Portfolio
Details
Corporate
Governance &
Transparency
Financials &
Additional
Information
CapitaLand Singapore
One of the leading developers, managers
and owners of integrated developments,
offices and homes in Singapore
Singapore’s residential market recorded sales of 7,440 new
private homes in 2015 (2014: 7,316 units). The impact of
the property cooling measures continued to weigh down
the private residential market. Nonetheless, the long-term
outlook remains positive as government policies to promote
population and economic growth will continue to support
demand for housing.
Singapore’s Central Business District (CBD) Core office
occupancy rate declined marginally to 95.1% as at end 2015
(2014: 95.7%). Average monthly Grade A office market rent
was $10.40 psf as at 31 December 2015 (2014: S$11.20 psf).
With the impending completion of above-normal new
supply in 2016, office market rents will continue to face
downward pressure.
Delivering Quality Homes
In 2015, CapitaLand sold 244 residential units (2014: 278 units)
with a total sales value of S$559 million (2014: S$561 million).
During the year, CapitaLand completed the construction of
Bedok Residences, Sky Habitat and The Nassim.
CapitaLand’s residential projects garnered several
prestigious local and international accolades during the
year. Notably, The Interlace at Depot Road was named
World Building of the Year and the winner in the Housing
(Completed Buildings) category at the World Architecture
Festival, the Oscars of the architecture world. Meanwhile,
d’Leedon located in the prime District 10 won the top
accolade of Universal Design Mark Platinum at the Building
and Construction Authority Awards 2015.
CapitaLand’s commitment to architectural excellence is
gaining traction on social media, with its developments
garnering some of the highest posts online. In August
2015, CapitaLand celebrated the completion of Sky Habitat
by organising the first Instagram Meeting (InstaMeet) by a
real estate developer in Singapore. The event saw a large
turnout of about 1,200 participants with about 600 photos
posted on Instagram under the hashtag #skyhabitatparty
that gathered about 18,000 likes within five hours.
Marine Blue, Sky Vue and Cairnhill Nine (the residential
tower within the integrated development at Cairnhill
Road, which also comprises Ascott Orchard Singapore)
are expected to be completed in 2016. Cairnhill Nine,
The Nassim and Victoria Park Villas at Coronation Road
will be launch-ready in 2016.
Resilient Office Portfolio
CapitaLand’s portfolio of commercial properties held
through CapitaLand Commercial Trust (CCT) reported
a stable committed occupancy rate of 97.1% as at
31 December 2015 (2014: 96.8%). This was achieved
through proactive asset management to spread out the lease
expiry profile and signing lease renewals ahead of expiry.
Tenant retention rate for the year was 83% (2014: 86%).
Average monthly rental for CCT’s office portfolio was
S$8.90 psf as at December 2015 (2014: S$8.61),
attributable to higher signing rents compared to expired
rents for office leases due during the year.
Cap i t aGr een, t he j o i n t ven t u r e deve l opmen t by
CapitaLand, CCT and Mitsubishi Estate Asia, officially
opened on 9 September 2015. The 40-storey Grade A
office building in Singapore’s CBD achieved a committed
occupancy rate of 91.3% as at 31 December 2015
(2014: 69.3%). CapitaGreen was conferred “2015 Best
Tall Building Award for Asia & Australasia” by the Council
on Tall Buildings and Urban Habitat in recognition of its
extraordinary contributions to the advancement of tall
buildings and the urban environment. Meanwhile, the asset
enhancement initiative at Capital Tower was completed in
December 2015.
