Allgreen Properties Limited | Corporate Profile
Allgreen is the Singapore property enterprise of the Kuok Group, a leading Asian conglomerate with diversified businesses including trading, food industries, manufacturing, real estate, hotels, shipping and the media. Incorporated in 1986 as Allgreen Investments, Allgreen Properties Limited was listed on the Singapore Exchange in May 1999. As at 31 December 2010, the Group has 38 subsidiaries and 12 associated companies.
Allgreen’s core businesses comprise property development, property investment, hospitality, project and property management. As at 31 December 2010, the Group’s assets are mainly in Singapore and the People’s Republic of China (“PRC”). It has entered into various joint ventures to participate in the development of mixed projects in Shanghai, Tianjin, Chengdu, Qinhuangdao, Shenyang and Tangshan in the PRC. Allgreen has also acquired a prime site in District 2, Ho Chi Minh City to develop a condominium project and another site in Vung Tau City for a mixed development.
As one of the largest property groups in Singapore, Allgreen Properties has a balanced quality portfolio of residential and commercial properties.
Allgreen’s current primary focus is on residential property development in Singapore. It has a significant landbank of about 1.3 million square feet of attributable gross floor area of residential development as at 31 December 2010.
The Group has a successful track record of strong take-up rates for its projects. A diverse portfolio of development projects caters to a wide spectrum of homebuyers’ needs and budgets – including apartments, condominiums, terraced and semi-detached units. Currently, the Group has 11 residential projects under construction or planning stage. The Group’s investment property portfolio comprises four properties. The wholly-owned flagship Great World City is one of Singapore’s largest integrated property developments and comprises two 18-storey office towers connected by a 4-storey office podium, a 3-storey with 3 basements retail mall and 304 serviced apartments. Other investment properties are owned through a 55.4 percent stake in Cuscaden Properties Pte Ltd, which owns the Traders Hotel, a 546-room property near Orchard Road; Tanglin Mall, a niche 3-storey with 4 basements shopping complex located in the prime District 10; and Tanglin Place, a 4-storey with 1 basement commercial complex.
Allgreen is engaged in project management through its wholly-owned subsidiary – Leo Property Management Private Limited.