World Class Global bags A$156.8m revenue from two Melbourne projects
WORLD Class Global yielded A$156.8 million (S$158.5 million) of revenue from the first phase handovers of two residential projects, AVANT and Australia 108 in Melbourne, Australia, as at the end of June.
The real estate player said after Tuesday's trading hours that this would positively impact its first half financial performance for FY18.
The purchase settlements for 195 units at AVANT were successfully completed. This contributed A$101 million recognised revenue for the group. The final handover for AVANT is expected to be completed in the second half of 2018 and will yield up to A$157.6 million in revenue.
The developer also completed the first phase handover for 108 residential units of its Australia 108 project. That generated A$55.8 million in recognised revenue. It expects to begin the second phase handover for 191 units at this project between July and October 2018.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
DBS puts 46 HDB shops, private strata retail units on market for S$210 million
China to facilitate Hong Kong IPOs and expand Stock Connect
Global equity funds see surge in outflows as rate cut hopes fade
Gazelle Ventures makes cash offer for No Signboard shares at S$0.0021 apiece
Global wave of consultancy layoffs has not hit Singapore
P&G raises annual core profit forecast on resilient demand, price hikes