{"id":104497,"date":"2019-02-28T11:25:51","date_gmt":"2019-02-28T04:25:51","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/okp-holdings-to-launch-two-residential-projects-soon\/"},"modified":"2019-02-28T13:04:38","modified_gmt":"2019-02-28T06:04:38","slug":"okp-holdings-to-launch-two-residential-projects-soon","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/okp-holdings-to-launch-two-residential-projects-soon\/","title":{"rendered":"OKP Holdings to launch two residential projects soon"},"content":{"rendered":"


\nArtist\u2019s impression of The Essence, a new condominium that\u2019s close to the upcoming Springleaf MRT station.
\nOKP Holdings plans to launch two residential developments this year: the 84-unit The Essence and another 79-unit project at Phoenix Heights.
\nSet to be launched in March, The Essence is a 99-year leasehold residential project that is \u201clocated near the new Springleaf MRT station and is within the government\u2019s designated rejuvenated region\u201d.
\nSEE ALSO:\u00a0The complete guide to buying a new launch condo in Singapore
\nOKP group managing director Or Toh Wat noted that the project is also \u201cstrategically nestled in a private residential enclave, with four major water bodies surrounding its perimeter, park connectors and green corridors\u201d.
\n\u201cWell-designed with attractive price points, we believe that the development will be attractive to home buyers,\u201d he noted.
\nHe also revealed that the group\u2019s Phoenix Heights residential project in Bukit Panjang has \u201creceived the necessary regulatory approvals, including the grant of a fresh 99-year lease\u201d.
\n\u201cWe will be focused on the smooth execution of the launch of these two developments.\u201d
\nOKP saw its net profit for the fourth quarter of 2018 increase 38.6 percent to $2.7 million, even as revenue fell 29.9 percent to $18.4 million.
\nFor the whole of 2018, net profit and revenue dropped 49 percent and 23 percent to $6.5 million and $90.4 million respectively.
\n\u201cThe lower FY2018 revenue was due mainly to a decrease in revenue contribution from the group\u2019s construction segment,\u201d the company said in an SGX filing.
\n\u201cHowever, this decrease was partially offset by an increase in revenue from the maintenance segment to $40.4 million, with a few major maintenance projects which were in full swing. In addition, there was a significant increase in rental income from the newly-purchased office property at 6-8 Bennett Street, East Perth, Western Australia.\u201d
\nOKP holds a 51 percent stake in freehold office complex 6-8 Bennett Street, which is expected to provide recurrent rental income to the group.
\nCan you afford a condo in Singapore? Check your\u00a0affordability\u00a0now.\u00a0Get more details on the\u00a0property market outlook for 2019
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…OKP Holdings to launch two residential projects soon<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Artist\u2019s impression of The Essence, a new condominium that\u2019s close to the upcoming Springleaf MRT...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-104497","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-rbr","jetpack-related-posts":[{"id":104261,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/boutique-condo-the-essence-launching-soon\/","url_meta":{"origin":104497,"position":0},"title":"Boutique condo The Essence launching soon","date":"February 22, 2019","format":false,"excerpt":"\r Artist\u2019s impression of The Essence, a new condominium that\u2019s close to the upcoming Springleaf MRT station. The Essence, a boutique condominium at Chong Kuo Road in District 26 is set to open its sales gallery on Saturday (23 Feb). The 84-unit development joins a number of small-scale projects that\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":96524,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/phoenix-heights-acquired-by-okp-holdings-for-33-1mil\/","url_meta":{"origin":104497,"position":1},"title":"Phoenix Heights acquired by OKP Holdings for $33.1mil","date":"August 23, 2018","format":false,"excerpt":"\r Phoenix Heights in Bukit Panjang | Photo credits :PropertyGuruSG A 25 percent-owned associate of OKP Holdings has clinched the tender for the collective sale of Phoenix Heights, a 32-unit condominium in Bukit Panjang, after it submitted a $33.1 million bid. \u00a0With an area of 3,971.9 sq m, Phoenix Heights\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":109075,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sophia-view-is-the-first-residential-en-bloc-sale-of-2019\/","url_meta":{"origin":104497,"position":2},"title":"Sophia View is the first residential en bloc sale of 2019","date":"July 17, 2019","format":false,"excerpt":"\r Sophia View, a five-unit residential development in District 9, was sold in June to a private investor, making it this year\u2019s first residential collective sale, reported Business Times. While marketing agent SRI refused to reveal the exact purchase price for the property, it shared that each unit will receive\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":110827,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/positive-buyers-demand-seen-at-the-antares-launch\/","url_meta":{"origin":104497,"position":3},"title":"Positive buyers\u2019 demand seen at The Antares launch","date":"September 17, 2019","format":false,"excerpt":"\r Located right next to the Mattar MRT station on Downtown Line, The Antares comprises one block of 18-storey, one block of 17-storey and two blocks of five-storey residential flats. The Antares \u2013 a project of a joint venture consortium comprising Hock Lian Seng Holdings, Keong Hong Holdings, and TA\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":79272,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ura-awards-3-housing-sites-for-728-55m\/","url_meta":{"origin":104497,"position":4},"title":"URA awards 3 housing sites for $728.55m","date":"February 8, 2018","format":false,"excerpt":"\r The land parcel in West Coast Vale was awarded to a subsidiary of CDL for $472.4 million. (Photo: URA) The Urban Redevelopment Authority (URA) announced on Wednesday (7 February) that it has successfully sold three residential sites for a total of $728.55 million. In particular, the approximately 210,881 sq\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":78533,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cdl-submits-highest-bids-for-handy-road-west-coast-vale-sites\/","url_meta":{"origin":104497,"position":5},"title":"CDL submits highest bids for Handy Road, West Coast Vale sites","date":"January 31, 2018","format":false,"excerpt":"\r The Urban Redevelopment Authority\u2019s batched tender closing for three residential sites at Chong Kuo Road, Handy Road and West Coast Vale saw City Developments Limited (CDL) submitting the top bids for two sites. CDL bid $212.2 million for the Handy Road plot and $472.4 million for the West Coast\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/104497"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=104497"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/104497\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=104497"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=104497"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=104497"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}