UOL still looking out for offices, hotels to buy
It reports a 27% drop in net profit for FY16 to S$287m on lower margins, fair value loss
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
UOL Group is still scouring for income-producing assets in gateway cities as the commercial and hospitality markets in Singapore remain under pressure this year.
But buying sentiment in Singapore's residential market has improved, said group deputy CEO Liam Wee Sin, a day before the group is slated to begin sales at The Clement Canopy, a 505-unit condominium project in Clementi, on Saturday.
He noted that the residential market "has settled into a new norm post-TDSR (total debt servicing ratio)". Developers sold more units than they launched last year, suggesting that the market remains resilient despite cooling measures.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Japan stocks look set for new highs in 2025 on earnings, reform
Beijing’s calculated silence on the Iran war
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
