Allgreen Properties Limited
The Kuok Group property arm in Singapore is Allgreen Properties Limited. Incorporated in 1986, Allgreen used to be listed on the Singapore Stock Exchange in May 1999 and used to be then majority owned by the Kuok group. It was delisted in August 2011 from the Singapore Stock Exchange following its compulsory acquisition via Brookvale Investments Pte Ltd (which is itself phase of the Kuok team of companies). Today, Allgreen is one of the biggest property groups in Singapore reputed for its first-class products and strong take-up for its projects. As at 31 December 2014, the Allgreen crew has 35 subsidiaries and 13 related companies. Although Allgreen started operations in 1986, the records and document of Allgreen’s property-related businesses can be traced back to the times when it commenced as a division of Kuok (Singapore) Limited in early 1980.
Allgreen’s portfolio of development properties consists of a mix of condominiums, terrace and semi-detached units. These properties are on freehold and 99-year leasehold tenures. Allgreen purchases land from private parties and participates in land tenders called by the Government to selectively and continuously maintain a landbank.
Allgreen’s funding property portfolio contains Great World City, Tanglin Mall and Tanglin Place. The wholly-owned flagship Great World City is one of Singapore’s largest integrated property development at approximately 1.06 million square feet lettable location and includes two 18-storey office towers supported by a 4-storey podium, a 3-storey retail mall with 3 basements and 304 serviced apartments, Great World Serviced Apartments, one of Singapore’s biggest serviced rental complex with comprehensive amenities and amenities. The Great World retail mall enjoys high occupancy and sturdy leases attributable to strong tenant relations, continued improvements of the mall and customer-friendly initiatives. The serviced residences and workplace space in a similar way attain high occupancy tiers and have shown strong income increase due to their great location and handy facilities.