SLA’s 2007 land sales revenue doubled to S$12.4b

The Singapore Land Authority’s (SLA) land sales revenue doubled to S$12.4 billion for its financial year ended 31 March 2008.

The property market boom and strong demand in state properties for office, education and commercial uses pushed sale revenue to just S$2 billion shy of the record S$14 billion netted in 1997.

According to the SLA’s latest annual report released Tuesday, it sold S$10.4 billion worth of land to the private sector, a 200 per cent increase compared to S$3.5 billion registered in its last financial year.

This includes the sale of a parcel of land at Irrawady Road to Parkway Novena for a hospital development, and another parcel at Beach Road to Scottsdale Properties.

SLA’s operating income was up 14 per cent to S$100.9 million from S$88.6 million a year ago.

Source : Channel NewsAsia – 23 Sep 2008

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