SINGAPORE (Nov 8): Ho Bee Land reported 3Q18 earnings of $67.8 million, a 25% increase over the same period last year.

In 3Q18, the group enjoyed its first full quarter rental contribution from Ropemaker Place in London which was acquired on June 15. Consequently, rental income increased 28% year-on-year.

Another major contributor to the increase in net profit was the group’s share of profit in its residential development projects in Shanghai and Zhuhai, which rose 54% to $44.2 million in 3Q18.

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