{"id":104691,"date":"2019-03-05T12:46:06","date_gmt":"2019-03-05T05:46:06","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/oxley-insists-it-can-repay-its-hefty-debts\/"},"modified":"2019-03-05T13:03:09","modified_gmt":"2019-03-05T06:03:09","slug":"oxley-insists-it-can-repay-its-hefty-debts","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/oxley-insists-it-can-repay-its-hefty-debts\/","title":{"rendered":"Oxley insists it can repay its hefty debts"},"content":{"rendered":"


\nOxley\u2019s executive chairman and CEO Ching Chiat Kwong.
\nDeveloper Oxley Holdings has clarified that it expects to recognise a higher amount of revenue from its local and overseas developments than what was recently reported, revealed an SGX filing on Friday (1 Mar).
\n\u201cThe group\u2019s local projects are worth approximately S$2.9 billion and the overseas projects to be launched (including those in Cyprus, Cambodia, Malaysia and London) are worth approximately S$4.6 billion,\u201d said its executive chairman and CEO Ching Chiat Kwong.
\nHe said this in response to a Business Times article published last week that claimed Oxley expects to receive about S$2 billion from its Singapore residential developments and S$500 million from projects in Malaysia, Cambodia, Cyprus and London.
\nThe report also noted that the developer has 10 development sites in Singapore, of which nine have been launched. In total these are expected to offer around 3,800 units, of which around 50 percent has been taken up.
\nIn the Business Times report, Ching highlighted that Oxley purchased most of its local residential land during the early stage of the collective sales fever in 2017 before prices increased significantly.
\n\u201cWhen the rest of the projects get launched, the market will see the difference, because we are probably the cheapest in terms of psf prices\u2026 We started to take the bus first; we were not the last person to board the bus.\u201d
\nIn addition, the firm\u2019s executive director and deputy CEO Eric Low shared that Oxley\u2019s residential developments are mainly intended for the mass market, with prices ranging from $1,300 to $1,700 psf. These are situated mostly in heartland areas like Potong Pasir, Kent Ridge, Yio Chu Kang, Geylang, Hougang, Serangoon and Pasir Panjang.
\nIts most expensive project would probably be Mayfair Modern and Mayfair Gardens, which have an average unit price of $1,900 psf, said Low, adding that mass market homes are easier to sell as these are preferred by HDB dwellers looking to upgrade.
\nFurthermore, Ching said in the article that he is bullish that Oxley can service its S$1.6 billion debt due over the next three years, via the sale of units at completed developments in Singapore and abroad. Another reason is the disposal of the Mercure and Novotel Hotels here as well as properties in Dublin Landings, Ireland that are expected to generate gross proceeds of around S$1.4 billion.
\nHome buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\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…Oxley insists it can repay its hefty debts<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Oxley\u2019s executive chairman and CEO Ching Chiat Kwong. Developer Oxley Holdings has clarified that it...<\/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-104691","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-rez","jetpack-related-posts":[{"id":41246,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/oxley-posts-stellar-sales-profit\/","url_meta":{"origin":104691,"position":0},"title":"Oxley posts stellar sales, profit","date":"January 20, 2017","format":false,"excerpt":"\r Ching Chiat Kwong, Executive Chairman and CEO at Oxley Holdings. Oxley Holdings announced on Thursday (19 January) that its net profit surged by 58 percent to $130.9 million during the last six months of the preceding year, compared to the same period in 2015. At the same time, the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":83821,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/oxley-planning-up-to-7-spore-projects-for-rest-of-2018\/","url_meta":{"origin":104691,"position":1},"title":"Oxley planning up to 7 S\u2019pore projects for rest of 2018","date":"March 27, 2018","format":false,"excerpt":"\r Oxley\u2019s executive chairman and CEO Ching Chiat Kwong. Oxley Holdings plans to launch up to seven property projects in Singapore over the next nine months in a bid to take advantage of the ongoing recovery in the private housing market, according to an SGX filing on Monday (26 Mar).\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":24360,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/oxley-full-year-profit-surges-123\/","url_meta":{"origin":104691,"position":2},"title":"Oxley full-year profit surges 123%","date":"August 30, 2016","format":false,"excerpt":"\r Oxley Holdings is developing the Royal Wharf, a massive waterfront development in London.\u00a0 Despite tough market conditions, Singapore-listed Oxley Holdings\u2019 net profit surged by 123 percent on an annual basis to $295.4 million for the financial year ended 30 June (FY2016), according to an SGX filing by the group.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":72678,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/from-policeman-to-property-developer\/","url_meta":{"origin":104691,"position":3},"title":"From policeman to property developer","date":"November 23, 2017","format":false,"excerpt":"\r Oxley Holdings CEO Ching Chiat Kwong. Ching Chiat Kwong has juggled many roles in his life. Never one to shy away from taking risks, he took the plunge to become a developer 10 years ago. Today, his company Oxley Holdings is a major property player, both at home and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2017\/11\/Mayfair-Gardens-crop.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":107103,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/oxley-profit-surges-121-in-q1\/","url_meta":{"origin":104691,"position":4},"title":"Oxley profit surges 121% in Q1","date":"May 14, 2019","format":false,"excerpt":"\r Its profit gain was primarily due to fair value gain of investment properties both in Singapore and overseas. Home-grown property developer Oxley\u2019s profit soared 121 percent to $67.4 million in the first quarter of 2019, from $30.6 million over the same period last year, primarily due to fair value\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":69440,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/oxley-raises-12-95m-via-sale-of-treasury-shares\/","url_meta":{"origin":104691,"position":5},"title":"Oxley raises $12.95m via sale of treasury shares","date":"October 19, 2017","format":false,"excerpt":"\r Singapore-listed Oxley Holdings has raised $12.95 million in net sales proceeds through the sale of 22.75 million treasury shares, revealed an SGX filing on Wednesday (18 October). The raised amount will be used by the home-grown property developer with a market capitalization of approximately $1.9 billion for working capital\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\/104691"}],"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=104691"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/104691\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=104691"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=104691"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=104691"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}