Singapore property developer Bukit Sembawang has posted strong results in the first quarter, with net profit climbing 3.5 times to S$44.4 million, from S$12.5 million over the same period last year.

The marked improvement was attributed to a combination of higher profit recognition from its development projects and the sales of more units at its Paterson Suites development.

Q1 sales also edged up to S$120.9 million, up 3.55 times from S$34 million a year ago.

Looking ahead, the company said it will closely watch the Singapore property market to determine the best time to launch Phase 5 of Luxus Hill, a landed development in District 28.

This will come on top of the launch of Phase 1 of Skyline Residences in Telok Blangah.

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