Property developer UOL is set to launch several new residential projects in the near future, revealed financial services firm Nomura. The first is a 445-unit development at Bright Hill Drive which is expected to launch in ‘a couple of weeks’.
The St. Patrick’s Garden project with 186 units is scheduled to launch in one to two months’ time, while another development at Sengkang West Way comprising 555 apartments is likely to launch in Q1 2014, Nomura added.
Commenting on the developer’s recent financial results, Nomura said: “The performance appears broadly in line with expectation with lower-than-expected profit booking at the associate level and higher-than-expected interest expense offset by better-than-expected margin at the consolidated level.”
UOL reported a profit after tax and minority interest (PATMI) of S$164.4 million excluding revaluation gains on investment properties and negative goodwill. While this is seven percent lower year-on-year, the figure met 49 percent of the full-year forecast of S$333.3 million.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories email romesh@propertyguru.com.sg
Good response for Tembusu project