UOL to launch freehold Meyer Blue condo in September as H1 net profit falls 3% to S$130.4 million
The group is bullish on its hospitality portfolio, which recorded higher revenue contributions in the first half with the opening of Pan Pacific Orchard in June 2023
PROPERTY and hospitality company UOL Group on Tuesday (Aug 13) reported a net profit of S$130.4 million in the first half of the year, a 3 per cent drop from S$135 million reported in the corresponding period last year.
Revenue for H1 fell 7 per cent to S$1.27 billion, from S$1.37 billion in H1 2023, as UOL recorded lower contributions from its property development business.
Still, the group is pressing ahead with a strong pipeline of launches, kicking off with the freehold Meyer Blue condominium, which is targeting to launch its private preview next month.
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