24 Jan '17, 3pm

Oxley posts stellar sales, profit #propertynews

Ching Chiat Kwong, Executive Chairman and CEO at Oxley Holdings. Oxley Holdings announced on Thursday (19 January) that its net profit surged by 58 percent to $130.9 million during the last six months of the preceding year, compared to the same period in 2015. At the same time, the Singapore-based developer’s revenue increased by 19 percent year-on-year to $732.2 million due to the sale of units at five local mixed-use projects, take-up and delivery of units at The Royal Wharf Phase 1A, and income recognition on Oxley Tower upon its completion last December. It was also boosted by rental income primarily from its 70 percent stake in industrial property Space @ Tampines. As of 31 December 2016, Oxley recorded total unbilled sales of $2.6 billion, of which around $0.49 billion was attributable to projects in Singapore, while about $2.11 billion was derived from overseas deve...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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