Roxy-Pacific to launch six sites for sale in 2018

Romesh Navaratnarajah14 Feb 2018

Harbour View Gardens

Roxy-Pacific bought Harbour View Gardens for $33.25 million in 2016. (Photo: Colliers International)

Roxy-Pacific Holdings reported a revenue of $43.3 million during the fourth quarter of 2017, down 53 percent from $93.1 million over the same period in 2016. Net profit also fell 39 percent to $7.3 million from $11.9 million in Q4 2016.

For the full-year 2017, revenue fell 36 percent to $246.8 million, while net profit dropped 41 percent to $29.4 million.

The property development segment remained the key revenue driver of the group, accounting for 78 percent of total group revenue in FY2017.

Roxy-Pacific noted that the segment’s comparatively lower revenue in FY2017 of $191.8 million from 2016’s $326.6 million was “mainly due to the absence of revenue recognised in FY2016 on projects that had completed in 2016 and early 2017”.

Meanwhile, Roxy-Pacific revealed that it currently counts 10 development sites in Singapore as its land bank. Of these, it plans to launch six development sites for sale this year, including The Navian and development sites at Grange Road, Upper Bukit Timah Road, Guillemard Lane as well as Harbour View Gardens at Pasir Panjang and River Valley.

Comprising a total of 440 units, these projects are expected to positively contribute to the earnings of the group progressively from the first quarter of 2019.

“Over the last couple of years, we’ve progressively accumulated predominantly freehold sites at attractive prices amidst the property downturn,” said Roxy-Pacific executive chairman and CEO Teo Hong Lim.

“Now that prices and sales volumes are picking up, we are well positioned to ride on this turnaround with six property launches planned for this year. We’ll continue to prudently strengthen our land bank while focusing on execution to ensure sustainable long-term growth.”


Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email


You may also like these articles

Dunearn Court sold to Roxy-Pacific for $36.3m

Each owner will receive about $2.91 million to $3.12 million from the sale. (Photo: Knight Frank)UPDATED: The en bloc market continues to roll with the sale of Dunearn Court to RH Central, a subsidiar

Continue Reading24 Oct 2017

Derby Court sold to Roxy-Pacific unit for $73.88mil

Third time’s a charm for Derby Court, which was sold for $73.88 million to Roxy-Pacific subsidiary, RH Developments Two Pte Ltd.Based on the development’s “as built” gross plot ratio of 2.872,

Continue Reading14 Dec 2017

Roxy-Pacific has big plans for Kismis View site

A Roxy-Pacific led joint venture intends to combine the Kismis View site with an adjacent plot to create a huge residential redevelopment measuring 100,336 sq ft. (Photo: JLL)Following their $102.75 m

Continue Reading9 Feb 2018