Property developer Ho Bee on Tuesday said second-quarter net profit surged 44.6 per cent from the corresponding period a year earlier to S$72.9 million as revenue rose 6.7 per cent to S$147.1 million. The rise in profit was due mainly to the increase in turnover and a gain of S$17.9 million in the sale of investment property, it said. Ho Bee chairman and chief executive Chua Thian Poh said that the...
Ho Bee
Singapore-listed Chinese developer Yanlord Land Group has bought two adjacent residential sites in the southern Chinese city of Zhuhai for 3 billion yuan (S$598 million) together with Ho Bee Investment and Shanghai Youyou Group. The sites have a combined gross floor area of 499,329 sq m and were purchased at an average 6,000 yuan per sq m, Yanlord said yesterday. Yanlord will own 60 per cent of the joint...
Mainboard-listed property development group Ho Bee Investment said its fourth-quarter net profit rose 168 per cent to S$115.6 million. That's on the back of a 13 per cent increase in revenue for the quarter to S$112 million. For the whole of 2010, net profit fell slightly by 8.5 per cent to S$308.4 million. The firm said the good performance was partly contributed by its share of profits totalling...
Ho Bee Investment says unit Ho Bee Developments has submitted the highest bid of $410.99 million for the land parcel located at North Buona Vista Drive under a sale of site for commercial development by JTC Corporation. The site with a land area of 17,994.4 sqm, is located next to the Buona Vista MRT station. The total allowable gross floor area is 111,565 sqm, out of which 2,000 sqm is to be set aside...
Yanlord Land Group and Ho Bee Investment have acquired six prime residential development sites for 504.6 million yuan or S$102.9 million in Hebei's Tangshan Nanhu Eco-City in China. This works out to an average purchase price of 1,302 yuan or S$265.6 per square metres. The purchase was made through their new joint venture company Yanlord Ho Bee Investments. In a statement, Yanlord Ho Bee said the sites...
Singapore-listed property developers Yanlord and Ho Bee have jointly acquired a 13.69 hectare prime residential development site in Shanghai's Qingpu District for around S$784 million. The site is situated a mere 5.5 km from the heart of the Hongqiao Commercial District which has been earmarked by the Shanghai municipal government to be the city's fully integrated financial, commercial and logistical hub...
Mainboard-listed property group Ho Bee Investment said its full year net profit jumped 262 per cent to S$337 million from the preceding year. The strong profit was achieved on the back of a record revenue. Revenue for the financial year ended December 31 almost quadrupled to S$1.16 billion. Sales rose 284 per cent from the S$302 million achieved in 2008. The company also recorded strong fourth-quarter...
Singapore developer Ho Bee said on Friday its unit has formed a joint venture company with China-based developer Yanlord Land. The newly formed subsidiary called HB Investments (China) is 80 per cent owned by Ho Bee and 20 per cent owned by Engro Corporation, a mainboard-listed producer of slag-cement. In turn, HB Investments and Yanlord Land will hold 50 per cent stake each in the JV investment holding...
Real estate developer Ho Bee Investment has said its full-year net profit fell 66 per cent in 2008 to S$93 million. Ho Bee said the fall was due to lower turnover and the absence of fair value gains on its investment properties. The reversal of write down of properties also contributed to the decline. Ho Bee's share of loss of JV Entities of S$5.1 million also added to its profit decline. Full-year...
Singapore-listed property counters have been massively sold down in recent weeks. They are underperforming the benchmark STI, with losses of about 61 per cent year-to-date. With the outlook for the sector still cloudy, analysts say they would prefer to remain cautious on these property stocks for the year ahead. Weak new home sales in Singapore have translated into soft earnings, a poor outlook, and...