The Kuok Group’s real estate division in Singapore is the well-renowned name of Allgreen Properties Limited. After having been incorporated in the year 1986, Allgreen Properties had been listed on the Singapore Stock Exchange by May in 1999 and was at that time mostly owned by the Kuok Group. Then, by August 2011, it was delisted from the stock exchange since it had to adhere to the mandatory acquisition by Brookvale Investments Pte Ltd. Which in itself is a part of the Kuok group of companies? Currently so far, Allgreen Properties is one of the largest of its kind in Singapore, well known for its quality products and past success record. As of 31st December 2014, the company owns 35 subsidiaries and 13 associated companies.
Allgreen Properties Listed on Singapore Stock Exchange
Within Singapore itself, Allgreen consists of a diverse portfolio of properties by the likes of retails and office space, serviced apartments, residential and a hotel. This portfolio of theirs consists of a mixture of terraces, condos and semi-detached units. All of the properties are on a freehold and a 99-year leasehold tenure basis. Allgreen procures land from private parties and then goes on to take part in land tenders called on for by the government to always maintain a landmark. Allgreen Properties act as a sort of jack of all trades when it comes to the development industry. The developer for the new freehold development Bukit Timah Collection is by Allgreen Properties
Joint Ventures Taken by Allgreen Properties in Shanghai
Additionally, Allgreen has been a part of various joint ventures for the purpose of participating in the developments of multiple projects in Shanghai. These projects consist of a variety of commercial developments, serviced apartments, residential developments, offices, and hotels. With its plan of expanding within the region so far, Allgreen has also acquired an important site in District – 2, Ho Chi Minh City, in Vietnam for the development of a condominium project. There is another such site in the Vung Tau City of Vietnam, which was acquired for the purpose of a mixed development project.
Properties Developed by Allgreen Properties
Allgreen is thoroughly engaged in project management activities through its fully-owned subsidiary, Leo Property Management (LPM) Pte Ltd. LPM provides support services mainly for the properties which have been developed by the group itself. LPM’s roles in the management of these projects include advising on design development, supervising and monitoring construction, concept planning, calling and awarding tenders for the construction work and budget and process payments. LPM’s capabilities are somewhere along the lines of developing projects such as those of retail, hotel, residential and serviced apartments.