Ho Bee Land has reported a 42% y-o-y jump in its 1HFY2022 earnings. Revenue in the same period was up 13.3% y-o-y to $178.3 million.
For the six months to June 30, earnings increased to $149.9 million, which includes a $16 million net fair value gain on its investment properties, as well as a $32.8 million realized gain on financial investments.
That aside, the company enjoyed better operational performance too. Rental income, for example, was up 12.9% y-o-y to $128.6 million, thanks mainly to contribution from The Scalpel, a London office bought by Ho Bee in February this year for $1.3 billion.