25 Jan '13, 4am

[S'PORE PROPERTY NEWS] Keppel Land has flagged a possible cut to its home prices. Read more:

The 622-unit Sengkang condo project The Luxurie has only eight unsold flats left. The development contributed to the bulk of the 430 residential units that Keppel Land sold in Singapore last year. -- PHOTO: KEPPEL GROUP THE boss of property developer Keppel Land has flagged a possible cut to its home prices if the market falls away in response to the Government's recent cooling measures. "We will monitor the market... If the market comes down and we can't sell our projects, then we'll have to cut prices," said recently installed chief executive Ang Wee Gee. He was speaking at a briefing yesterday, where the firm announced a 39 per cent decline in full-year net profit to $838.4 million a year earlier. But turnover for the 12 months to Dec 31 was largely flat, dipping 1.1 per cent year on year to $938.9 million. For the fourth quarter, net profit slid a steeper 55.4 per cent...

Full article: http://www.stproperty.sg/articles-property/singapore-prop...

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