About Logan Property Foray Into Condominium Development
Founded in 1996, Logan Property Holdings Company Limited (“Logan Property”, stock code: 3380.HK) is an integrated property developer focusing on residential property development in the PRC, mainly the Guangdong-Hong Kong-Macao Greater Bay Area, with its products primarily target first-time homebuyers and upgraders. It was listed on the main board of the Stock Exchange of Hong Kong in 2013. The Group has Grade-A qualifications in property development, general contracting of construction as well as engineering design, and is one of the best property developers in the PRC in terms of overall strength.
In 2017, the group jumped to 295th in Fortune China’s Top 500 Enterprises. In 2018, the Group was ranked 26th in the China Top 100 Real Estate Developers and 4th in the Top 10 Most Profitable Companies, with its brand and overall strength being highly recognized by the market.
Adhering to the business concept of “Building a Better Life”, Logan Property has so far developed over 150 residential projects and provided quality life services to over 600,000 people. The Group has been focusing its business in the Pearl River Delta, Guangdong and Guangxi in China, and has had the foresight to build a footprint in the world-class agglomeration Guangdong-Hong Kong-Macao Greater Bay Area, which is part of the national strategy. Over 80% of Logan Property’s land bank is situated in the Guangdong-Hong Kong-Macao Greater Bay Area, such provides a solid basis for realizing future growth. The Group started to expand its business to overseas markets in 2017. It commences its international journey of expansion by acquiring quality projects in Hong Kong and Singapore, establishing itself as an upscale china developer in Singapore.
Logan Property Announces Its Arrival With Record Bid For Condominium GLS Land Tender
In 2017, Logan Property and Nanshan Group made the headline news when it tendered over S$1 Billion for the Stirling Road Government Land Sales (GLS) located in the Central Region of Queenstown. This was the first time that a GLS residential site was sold for more than a billion dollars and it must have drawn attention from some of the top private property developers in Singapore such as GuocoLand, Far East Organisation and City Developments. Due to the huge land size in the Stirling Road GLS, it is expected to yield more than 1000 units of condominiums for sale. The close proximity to Central Business District and several key business parks will position Stirling Residences as an attractive investment condos for rent.
In October 2017, Logan Property bagged yet another outstanding site – Florence Regency – in Hougang Avenue 2 for $629 million dollars. These two land deals will be significant milestones in the building of Logan Property as a top real estate developer in Singapore.
On the back of an excellent performance and outstanding comprehensive strength, the shares of Logan Property are constituent stocks of Hang Seng Composite Large Cap & Medium Cap Index, MSCI China All Shares Index and FTSE Shariah Global Equity Index and are included in the list of eligible stocks for Southbound trading under Shenzhen-Hong Kong Stock Connect and Shanghai-Hong Kong Stock Connect. In addition, the Group is rated Ba3, BB- and BB- by Moody’s, Standard & Poor’s and Fitch, respectively, with a stable outlook.
Looking forward, Logan Property will continue to focus its business in the Guangdong-Hong Kong-Macao Greater Bay Area and will push forward with its steady business expansion as one of the foreign developers in Singapore, so as to create greater value for its shareholders and customers.
Logan Property Portfolio of Condominium in Singapore
More information about Logan Property Condominium Portfolio in Singapore:
Stirling Road GLS (District 03 – Alexandra, Commonwealth, Queenstown, Bukit Merah)
Location : Stirling Road
Land Area : 21,109.5 square metres
Tenure : Leasehold
Purchase Price: $1,002,719,956
Purchase Date : May 2017
Purchasers: Logan Property (Singapore) Company Pte Ltd and Nanshan Group Singapore Co. Pte. Ltd.
Redeveloped : Stirling Residences
Florence Regency (District 19 – Hougang, Serangoon, Punggol, Sengkang)
Location: Hougang Avenue 2
Land Area: 36,161.2 square metres
Tenure: Leasehold
Purchase Price : $629,000,000
Purchase Date: October 2017
Purchaser: Logan Property Holdings Company Limited
Redeveloped : The Florence Residences