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1. Written by News on 07-07-2008 01:34
 
 
Kuwait fund buys just 36 units
It is not taking 97 units as it originally agreed to in Dec, and is also paying less 
 
KUWAIT Finance House (KFH) has ended up buying only 36 units in the posh Goodwood Residence , not the 97 it had wanted initially - and it is paying a lower price. 
 
The Islamic banking group has paid $2,800 per sq ft (psf) for the apartments near Newton Circus - $400 psf below the price it agreed to in December when the property market was in full bloom. 
 
KFH has bought two- and four-bedroom apartments and one penthouse unit, according to market sources. Its initial deal was for only four-bedroom units.
 
2. Written by News on 25-03-2008 19:15
 
 
Kuwaiti firm still in talks over mega de
A MAJOR $818.4 million residential property deal that fell through recently could be revived. 
 
The potential buyer, Kuwait Finance House (KFH), said last week it was still in talks to buy the 97 units at GuocoLand’s freehold Goodwood Residence. 
 
KFH said it had a positive view of the outlook for Singapore’s property market. 
 
KFH had done the deal at a median price of $3,200 per sq ft (psf), when nearby projects in the Bukit Timah/Newton Circus area were going for an average price of $2,500 psf or below. 
 
KFH said it was upbeat about Singapore, given the Republic’s status as a financial hub, the integrated resorts and the introduction of events such as Formula One.
 
3. Written by News on 11-03-2008 01:52
 
 
97 options were not exercised
GuocoLand Limited (“GLL” or the “Company”) refers to the joint press release issued by the Company and Kuwait Finance House (Malaysia) Berhad (“KFHMB”) on 18 December 2007, in relation to the sale of 97 units in Goodwood Residence to a fund company managed by KFHMB. 
 
The Company wishes to inform that the 97 options were not exercised and consequently, have lapsed. Nonetheless, the parties are presently in discussions, with a view to a grant of fresh options for units in the development. 
The expiry of the options will not have any material financial effect on the GLL Group’s net tangible assets per share or earnings per share, for the current financial year ending 30 June 2008. 
 
The current private residential property market appears to be cautious in Singapore. Goodwood Residence is a premier freehold development, with only 210 exclusive units on a large 24,845 square metre estate fronting the expansive Goodwood Hill. The units at Goodwood Residence will be marketed selectively at a later date. 
 
Dated this 10th day of March 2008 
By Order of the Board 
Dawn Pamela Lum 
Group Company Secretary 
 
Source: SGX
 
4. Written by News on 24-12-2007 16:27
 
 
Kuwait Outfit Snaps Up 97 Apartments In
Kuwait Outfit Snaps Up 97 Apartments In $818m Deal 
 
The latest deal - and biggest such transaction to date - is Kuwait Finance House’s $818.4 million purchase of 97 four-bedroom apartments in GuocoLand’s freehold condo, Goodwood Residence. The property is being developed on the former Casa Rosita site. 
 
The average unit price is understood to be slightly over $3,000 per square foot. This is a new high for the prime Bukit Timah area; it is about 25-30 per cent above the $2,500 psf average price that Sui Generis is fetching at nearby Balmoral Crescent. 
 
The Singapore property arm of Malaysian tycoon Quek Leng Chan is likely to release the remaining 113 units in the 210-unit freehold condo for sale in the first quarter next year, depending on market conditions. The development includes apartments with two and three bedrooms, as well as penthouses. 
 
Goodwood Residence, which will comprise two 12-storey blocks, is slated for completion in 2010.
 
5. Written by Joe on 16-12-2007 17:06
 
 
Kuwait Outfit Snaps Up 97 Apartments In
Latest from business times that the launch will be pushed back to next year...
 
6. Written by joe on 25-08-2007 22:00
 
 
Launching by end-Dec 2007
GuocoLand is preparing to launch a freehold luxury condo named Goodwood Residence on the Casa Rosita site in Bukit Timah by the end-December 2007.  
 
Anybody interested?
 

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