UOL sharpening recurring income play
Q3 earnings up 10%; plan to launch Upper Paya Lebar condo project in Q1 next year; residential land acquisitions will still be selective
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Singapore
UOL Group, which has posted a 10 per cent rise in third-quarter net earnings, will focus more effort on commercial and hospitality assets with recurring income - amid the subdued Singapore residential sector, said its group CEO Gwee Lian Kheng.
The group recently opened its One KM mall along Tanjong Katong Road. Its 210,000-square-foot net lettable area - spread across three storeys and a basement - is 93 per cent let. Tenants include Uniqlo, Esprit, Food Junction, Cold Storage, Popular and Harvey Norman.
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