GuocoLand Limited

GuocoLand's 2Q earnings treble to $32.4 mil as revenue doubles on higher sales activities

SINGAPORE (Jan 16): Property developer GuocoLand Limited reported earnings of $32.4 million for 2Q20 ended December, nearly three times its earnings of $10.9 million a year ago. 

This brings the group’s half year earnings to $74.5 million, double that of $37 million for the corresponding period in the previous year. 

Revenue for the quarter saw a 110% surge to $299.6 million from $142.9 million in the preceding year. This was attributable mainly to higher progressive recognition of sales from the group’s residential development Martin Modern.

GuocoLand's 4Q earnings fall 42% to $141 mil on lower revenue & other income

SINGAPORE (Aug 27): GuocoLand announced earnings of $141.2 million for the 4Q ended June, down 42% from $244.8 million a year ago on lower revenue and other income.

This brings the property developer’s earnings for FY18 to $381.3 million, which is 7% higher than the $357.2 million posted in FY17.

The group has recommended a final dividend of 7 cents per share for FY18, unchanged from a year ago.

GuocoLand earnings fall 25% to $43 mil in 2Q on lower share of profit, higher expenses

SINGAPORE (Feb 1): GuocoLand posted a 25% drop in earnings to $43.0 million for the 2Q ended December, from $57.1 million a year ago.

This was mainly due to a lower share of profit of associates and joint ventures, as well as higher administrative and finance costs.

Revenue surged 60% to $370.6 million in 2Q, from $232.0 million a year ago.

This was attributed mainly to the stronger sales and higher progressive revenue recognition from residential projects in Singapore.

In line with the higher revenue, gross profit increased by 93% to $91.4 million.

Singapore penthouse on sale for more than $100 million, a test for luxury market's recovery

From Reuters

SINGAPORE (July 13): The asking price for a new three-storey Singapore penthouse, complete with a private pool on the 64th floor, has reached a dizzying price of more than $100 million.

Due to be formally unveiled later this year, Wallich Residence's penthouse is in the tallest building in Singapore, the island of well-heeled stability that attracts the super-rich from its less-developed Southeast Asian neighbours, as well as multi-millionaires from mainland China.

Are Singapore luxury home prices recovering?

(July 6): Singapore’s luxury home prices, which have been the worst hit by the government’s property curbs in recent years, are finally showing signs of a recovery, according to developer Guocoland Ltd.

High-end home sales in the city-state had been on an upswing even before the government in March eased some of its cooling measures in place since 2009, according to Cheng Hsing Yao, group managing director at Guocoland. The changes in March may have added more fuel to the buying sentiment, he said.

GuocoLand to launch Martin Modern on July 22

From press release

SINGAPORE (July 6): GuocoLand today announced that its latest development, Martin Modern, will be launched on July 22.

Private reviews for the sales gallery and show suites will open on July 8 at 8 Martin Place.

The development is located in Robertson Quay in prime District 9 and comprises 450 residential units with a botanic garden surrounding it.

There are four types of apartment units, from two- to four-bedroom units spanning 764 sq ft to 1,798 sq ft.

GuocoLand to launch luxury condominium Martin Modern in 2H17

SINGAPORE (April 24): Property developer GuocoLand is targeting to launch its latest luxury residential condominium project, Martin Modern, in the second half of 2017.

The 450-unit property will be located in District 9 at the corner of Martin Place and River Valley Close, within the neighbourhood of Robertson Quay.

Each unit will come with a view of the gardens, the city, or the Singapore River.

GuocoLand marks expansion beyond Asia as joint-venture Eco World International debuts on Bursa Malaysia

EWI Embassy Gardens London

SINGAPORE (April 3): SGX-listed property group GuocoLand Limited has marked its expansion into the UK and Australia via its joint-venture company, Eco World International (EWI).

EWI currently has four development projects under construction in London and Sydney, with an estimated total gross development value of approximately £2.4 billion ($4.2 billion).

As at 31 January 2017, the total contracted sales from EWI’s four projects are approximately £1.2 billion.

Be informed of the stories that matter