ARA Asset's Q2 earnings up 36% as revenue rises 17%
It plans to launch billion-dollar fund before year's end, says group CEO
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
ARA Asset Management's net profit for its second quarter ended June 30 rose 36 per cent to S$20.8 million, while its revenue climbed 17 per cent to S$40.4 million.
The Pan-Asian real estate fund manager's net profit was driven by higher revenue from recurrent management fees, acquisition, divestment and performance fees, as well as finance income and other income.
It also enjoyed new contributions from two recently launched Korean private real estate investment trusts (Reits), as well as two funds, Morningside Investment Partners and Straits Investment Partners.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
