reporter2
07-03-22, 10:26
UOL to launch new project at Ang Mo Kio Avenue 1 in June
EdgeProp Singapore
March 4, 2022
https://i.imgur.com/OB0PVsy.jpg
SINGAPORE (EDGEPROP) - At its FY2021 results briefing on Feb 28, UOL Group reported revenue of $2.6 billion, underpinned by property development which saw a 67% y-o-y increase in revenue to $1.6 billion. Earnings surged to $307.4 million in FY2021, compared with just $13.1 million in the previous year. This was mainly due to fair value and other gains of $73.8 million in FY2021, compared to fair value and other losses of $246.7 million in FY2020, said the listed property group.
Revenue was recognised for UOL’s Singapore residential projects including the 1,074-unit Avenue South Residence, the 729-unit The Tre Ver, the 640-unit Clavon and the developer’s sole new launch last year, namely, the 448-unit The Watergardens at Canberra. Launched in August 2021, 76% of the project has been taken up, with units averaging $1,451 psf, based on caveats lodged.
https://i.imgur.com/59NyjsH.jpg
Property development sales were also boosted by revenue recognised from The Sky Residences in London, which is part of the One Bishopsgate Plaza integrated development. The Sky Residences is a 160-unit luxury apartment project that was completed last September.
Read more at: https://www.edgeprop.sg/property-news/uol-launch-new-project-ang-mo-kio-avenue-1-june
EdgeProp Singapore
March 4, 2022
https://i.imgur.com/OB0PVsy.jpg
SINGAPORE (EDGEPROP) - At its FY2021 results briefing on Feb 28, UOL Group reported revenue of $2.6 billion, underpinned by property development which saw a 67% y-o-y increase in revenue to $1.6 billion. Earnings surged to $307.4 million in FY2021, compared with just $13.1 million in the previous year. This was mainly due to fair value and other gains of $73.8 million in FY2021, compared to fair value and other losses of $246.7 million in FY2020, said the listed property group.
Revenue was recognised for UOL’s Singapore residential projects including the 1,074-unit Avenue South Residence, the 729-unit The Tre Ver, the 640-unit Clavon and the developer’s sole new launch last year, namely, the 448-unit The Watergardens at Canberra. Launched in August 2021, 76% of the project has been taken up, with units averaging $1,451 psf, based on caveats lodged.
https://i.imgur.com/59NyjsH.jpg
Property development sales were also boosted by revenue recognised from The Sky Residences in London, which is part of the One Bishopsgate Plaza integrated development. The Sky Residences is a 160-unit luxury apartment project that was completed last September.
Read more at: https://www.edgeprop.sg/property-news/uol-launch-new-project-ang-mo-kio-avenue-1-june