Archive for category: Misc

View of Meyer Mansion and the landscaped gardens at its private residents’ clubhouse at dusk. (Photo: GuocoLand)GuocoLand has reported earnings of $66.2 million for the 1HFY2024 ended Dec 31, 2023, 12% higher y-o-y, backed by a strong performance in the group’s Singapore business. The earnings came about as the group’s 1HFY2024 revenue surged by 61% y-o-y to $1.07 billion due to strong growth in its property development and property investment segments. Revenue for the group’s property development surged by 67% y-o-y to $918 million driven by higher progressive recognition of residential sales in Singapore.The group also continues to see strong demand for its Singapore residential developments with its high-end projects, Meyer Mansion, Midtown Modern and Lentor Modern, almost fully sold.As construction progresses, these projects will progressively contribute to the group’s revenue. Revenue for the group’s property investment segments grew by 46% y-o-y to $109.4 million mainly due to the progressive commencement of leases at Guoco Midtown as well as the positive rental reversions at Guoco Tower.Random BreaksThe group also saw a positive contribution of $20.5 million from associates and joint ventures compared to a loss in the corresponding period the year before. Operating profit also increased by 42% y-o-y to $93.1 million. Earnings per share (EPS) stood at 5.11 cents, up 15% y-o-y, on a fully diluted basis.GuocoLand’s portfolio of assets in Singapore remained its mainstay with a net profit growth of 48% y-o-y to $115.7 million. “We turned in a strong performance for the first half of FY2024, despite the ongoing macroeconomic uncertainties.Our results were underpinned by high-quality income generating assets in Singapore, such as the landmark Guoco Tower and Guoco Midtown developments,” says Cheng Hsing Yao, group CEO of GuocoLand.“Both our twin engines of property development and property investment are firing strongly, but we are not standing still. We are constantly reviewing our portfolio, and will continue to invest prudently in promising areas, leveraging our capability in placemaking and rejuvenating neighbourhoods,” he adds.Guoco Midtown launches retail spaces with 100% take-up rateThe future of work comes to life at Guoco Midtown’s new Network HubGuocoLand cements status as Top Developer for quality liveable homes

GuocoLand has just announced its impressive earnings of $66.2 million for the 1HFY2024 ended Dec 31, 2023, reflecting a 12% increase from the previous year. This success can be attributed to the strong performance of the group’s Singapore business, as revenue surged by 61% y-o-y to $1.07 billion in the same period.

The nearest MRT station is just a short walk away, ensuring convenient and efficient travel for residents of River Valley Green Condo.

Strategically located in the heart of Singapore, River Valley Green Condo offers a luxurious living experience with its close proximity to major amenities such as shopping malls, schools, and entertainment hubs. With its modern facilities and beautifully landscaped grounds, residents can enjoy a serene and tranquil environment amidst the bustling city life. Additionally, the development also boasts impressive green features, promoting sustainable living and reducing its carbon footprint.

Not only does River Valley Green Condo offer convenient access to transportation and amenities, but it also provides a range of luxurious facilities within its premises. Residents can unwind and relax at the swimming pool, gymnasium, or rooftop gardens while taking in the stunning views of the city skyline. The development also prioritizes safety and security with 24-hour surveillance and on-site personnel.

Each unit at River Valley Green Condo is carefully designed to provide a comfortable and modern living space. The spacious layout and high-quality finishes make for a luxurious experience for its residents. Additionally, the development offers a variety of unit sizes to cater to different needs and preferences.

With its prime location and exceptional features, River Valley Green Condo offers a perfect balance of convenience, luxury, and sustainability. It is an ideal choice for individuals and families looking for a premium residential development in Singapore. Don’t miss the opportunity to be part of this prestigious community and experience the best of city living at River Valley Green Condo.

The group’s property development and property investment segments were the main driving forces behind this growth, with revenue for property development increasing by 67% y-o-y to $918 million. This was mainly due to higher progressive recognition of residential sales in Singapore. Demand for the group’s Singapore residential developments, such as Meyer Mansion, Midtown Modern, and Lentor Modern, remains strong, with most units almost fully sold. As construction progresses, these projects will contribute even more to the group’s revenue.

The property investment segment also experienced a significant boost, with revenue increasing by 46% y-o-y to $109.4 million. This was mainly due to the progressive commencement of leases at Guoco Midtown and positive rental reversions at Guoco Tower.

Additionally, the group saw a positive contribution of $20.5 million from associates and joint ventures, compared to a loss in the same period the previous year. Operating profit also increased by 42% y-o-y to $93.1 million. On a fully diluted basis, earnings per share (EPS) stood at 5.11 cents, a 15% increase from the previous year.

GuocoLand’s portfolio of assets in Singapore remains a standout, with net profit growing by 48% y-o-y to $115.7 million. “We turned in a strong performance for the first half of FY2024, despite the ongoing macroeconomic uncertainties,” says Cheng Hsing Yao, Group CEO of GuocoLand. “Our results were underpinned by high-quality income-generating assets in Singapore, such as the landmark Guoco Tower and Guoco Midtown developments.”

He adds, “Both our twin engines of property development and property investment are firing strongly, but we are not standing still. We are constantly reviewing our portfolio and will continue to invest prudently in promising areas, leveraging our capability in placemaking and rejuvenating neighborhoods.” With the recent launch of retail spaces at Guoco Midtown with a 100% take-up rate, it is clear that GuocoLand has a strong foothold in the market.