Wharf Estates Singapore Explained

Wharf Estates Singapore Pte. Ltd.
Type:subsidiary
Traded As: (former)
Foundation:1972
Location City:Singapore
Location Country:Singapore
Key People:Stephen Ng (Chairman)[1]
Area Served:Singapore
Industry:Properties
Parent:Wharf REIC
Owner:Wharf REIC (100%)

Wharf Estates Singapore Pte. Ltd., formerly Marco Polo Developments Limited, Wheelock Properties (Singapore) Limited and Wheelock Properties (Singapore) Pte. Ltd., engages in property development and investment in Singapore.[2] It is a subsidiary of Wharf Real Estate Investment Company (Wharf REIC),[3] itself a listed subsidiary of Wheelock & Co. Wharf REIC and Wharf Estates Singapore are named after The Wharf (Holdings), another subsidiary of Wheelock & Co..

Business overview

Its development properties are Grange Residences, The Sea View, The Cosmopolitan, Ardmore Park, Ardmore II, Scotts Square, Orchard View and Ardmore 3, and its investment property is Wheelock Place.[4]

History

The company was incorporated in Singapore in 1972 and listed on the Singapore Exchange (SGX) in 1981.

In 1995, Wharf Estates Singapore, at that time known as Marco Polo Developments Limited was sold by The Wharf (Holdings) to its sister company Hongkong Realty.[5] Hongkong Realty later renamed to Wheelock Properties Limited in 2004. Both Hongkong Realty (Wheelock Properties) and The Wharf (Holdings) are Wheelock & Co. subsidiaries. Marco Polo Developments later renamed to Wheelock Properties (Singapore) Limited.

Wheelock Properties (Singapore) Limited was taken over by its parent company Wheelock & Co.[6] and was delisted from the SGX on 18 October 2018, becoming Wheelock Properties (Singapore) Pte. Ltd..

Wheelock & Co. and its subsidiary The Wharf (Holdings)'s formed a spin-off listed company Wharf Real Estate Investment Company (Wharf REIC) for their real estate portfolios. In 2019, Wheelock Properties (Singapore), and its subsidiaries and real estate portfolios were acquired by Wharf REIC.[7]

Circa 2020 Wheelock Properties (Singapore) was renamed Wharf Estates Singapore.

Notes and References

  1. Web site: BOARD OF DIRECTORS. 13 November 2020. Wharf Estates Singapore.
  2. http://finance.google.com.hk/finance?q=SQX:M35 Wheelock Properties (Singapore) Ltd.
  3. Web site: Annual Report 2019. April 2020. 12 November 2020. Wharf Real Estate Investment Company.
  4. http://www.alacrastore.com/company-snapshot/Wheelock_Properties_Singapore_Limited-2013686 Wheelock Properties (Singapore) Limited
  5. News: Wheelock Sets Big Asset Swap Between Units. 30 May 1995. The Wall Street Journal Asia.
  6. Web site: Ong . Yunita . Wheelock Properties to delist on Oct 18 . The Straits Times . 12 June 2020 . 16 October 2018.
  7. Announcement Connected Transaction . 18 December 2019. 13 November 2020. Wharf Real Estate Investment Company. Kevin C.Y.. Hui. hkexnews.hk.

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