Ho Bee

Ho Bee Land Q2 net profit almost doubles to S$71.5m

Ho Bee Land has posted net profit of S$71.5 million for the second quarter ended June 30, up 98.1 per cent from the S$36.1 million net profit in the year-ago period. In a filing with the Singapore Exchange on Friday evening, the property group said that the stronger bottomline was on the back of recognition of a S$28.3 million fair value gain on investment property. This arose from the group completing...

Ho Bee Land acquires freehold Grade A London property with £650m investment

Ho Bee Land announced on Sunday that it has acquired a freehold 21-storey Grade A office building in London, by purchasing its owner Frasia Properties Sàrl for £650 million (approximately S$1.16 billion). Registered in Luxembourg, Frasia Properties Sàrl owns the property known as Ropemaker Place, a 21-storey Grade A office building comprising approximately 602,000 square feet of commercial...

Ho Bee Land sells London office block for £94.5 million

PROPERTY group Ho Bee Land has entered into a deal to sell Rose Court, an office block in Southwark, London to an unrelated Guernsey property unit trust for £94.5 million (S$167.5 million). The buyer has paid a deposit of 10 per cent of the sale price and the balance will be payable upon completion on Feb 21, 2017. The transaction is a cash purchase, Ho Bee said in a news release issued after the close...

Ho Bee buys sixth office property in London

Local developer Ho Bee Land on Tuesday (Dec 1) said it will buy its sixth office property in London for £99 million (S$210 million), continuing its expansion in the UK. Called Apollo House and Lunar House, the property in Croydon, London comprises one 20-storey office building and one 22-storey building with a total 441,797 square feet of office space. The site is designated in the London Borough of...

Ho Bee’s Q4 net profit falls 44%

Luxury property developer Ho Bee Land said on Friday (Feb 27) its net profit fell 44 per cent in the fourth quarter from a year ago, hurt by a drop in fair value gains which offset a rise in rental income. Ho Bee, which owns the Metropolis in one-north and is known for its Sentosa developments, earned S$285.2 million in the three months ended December, down from S$506 million in the same period a year...

Ho Bee Land’s Q2 net profit drops 54%

Property group Ho Bee Land on Monday (Aug 11) reported a 54 per cent decline in second-quarter net profit to S$12.2 million from a year ago. However, group turnover for the three months rose to S$26.8 million from S$6.1 million in the same quarter last year. The company attributed the boost to higher revenue from its investment properties. Rental income from the company's industrial and commercial...

Ho Bee Land acquires London office building

Ho Bee Land continued its diversification into the United Kingdom by purchasing an office building that once served as London's General Post Office. The Singapore developer will pay £171 million (S$362 million) for the freehold property known as 1 St Martin's Le Grand, it said in a statement on Friday. "The acquisition of 1 St Martin's Le Grand is our second major office acquisition in the city of...

Ho Bee to defend claims by Sentosa Cove condo owners

Singapore-listed developer Ho Bee Investment says claims by home owners against alleged defects at The Coast at Sentosa Cove will be "vigorously defended". The Coast's Management Corporation Strata Title (MCST) is taking legal action against the developer for alleged defects including termite-infested pool decking and flooded staircases at the high-end condominium. The Coast was developed by Ho Bee...

Sentosa Cove condo developer sued over ‘defects’

Angered by what they allege to be "defects" on their property - which include termite-infested pool decking, flooded staircases in common areas and incorrectly-installed electrical fittings - 108 owners of an upscale condominium on Sentosa Cove have taken property developer Ho Bee Investment and three contractors to court. Ho Bee has denied some of the claims, said its Executive Director Desmond Woon....

Ho Bee not ruling out launching REIT in next 2 years

Luxury property developer Ho Bee Group is not ruling out launching a real estate investment trust (REIT) in the next two years. These are for its commercial properties, including its latest mixed development The Metropolis. Ho Bee's chairman Chua Thian Poh said this on Thursday on the sidelines of the ceremony to mark the completion of structural works for The Metropolis. Even before the two towers are...

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