Third-quarter gain rises to $78.5m as projects generate higher revenue
THE feel-good factor igniting the residential property market – and starting to take hold in the commercial sector – had a dramatic effect on Keppel Land’s bottom line in the third quarter.
Profit and turnover both soared, as buyers flocked to condominium launches across the island, while sales overseas were also buoyant.
‘The low interest rate environment and greater optimism about the economy and job market have continued to improve the market sentiments driving the housing market,’ the group said in a statement yesterday, as it released its numbers for the three months ended Sept 30.
It said net profit in the third quarter rose by 70 per cent to $78.5 million, from $46.2 million in the same period last year, due to higher revenue from projects and greater contributions from associated companies. Continue reading
Lush Dream Home 