{"id":22191,"date":"2016-08-07T13:05:47","date_gmt":"2016-08-07T06:05:47","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/heres-how-one-developer-is-avoiding-the-singapore-property-slump\/"},"modified":"2016-08-07T13:11:06","modified_gmt":"2016-08-07T06:11:06","slug":"heres-how-one-developer-is-avoiding-the-singapore-property-slump","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/heres-how-one-developer-is-avoiding-the-singapore-property-slump\/","title":{"rendered":"Here\u2019s how one developer is avoiding the Singapore property slump"},"content":{"rendered":"


\nOffice rentals to tide Ho Bee Land over until the Singaporean market is ready for residential.
\nSingaporean property investor Ho Bee Land has been reaping the rewards of its gear shift this decade, playing up office space leasing and shying away from selling residential developments.
\nRevenues in the first quarter shot up by 20 percent to $37.2 million, with net profits jumping 59.8 percent to $18.5 million. The bulk of the gains were made on the back of recurring rental income from a trio of commercial properties acquired in London in 2015.
\n\u201cWe are seeing the recurring-income strategy bearing fruit,\u201d Chong Hock Chang, Ho Bee\u2019s Associate Director, told Forbes. \u201cOur income stream is sustainable.\u201d
\nAmid a depressed Singaporean property market, Ho Bee founder and CEO Chua Thian Poh has been weaning his company off residential development, premised on the outlook that the market will recover in two to three years. Today, Ho Bee\u2019s portfolio is comprised of two-thirds commercial, with rental income mainly buttressing its revenues in 2014 and 2015.
\nThree of its high-end residential projects in Sentosa Cove are now off the market.
\nIt is a far cry from Ho Bee\u2019s beginnings as a residential juggernaut, reaching an apex in 1993 with its Southaven development around Bukit Timah Hill. From then until 2010, two-thirds of Ho Bee\u2019s portfolio was composed of residential.
\nChua was one of the first Singapore-based developers to branch out of the country, beginning with a London investment that inadvertently insulated him from the Asian Financial Crisis the following year.
\n\u201cWe learned from the Asian Financial Crisis,\u201d Chua told Forbes. \u201cSpread the risk. Don\u2019t rely on a single market. Diversify.\u201d
\nSingapore\u2019s property market may be in the doldrums, but analysts are hoping the city-state\u2019s relatively low home-price-to-income ratio would tip the scales against Hong Kong and other Asian markets.
\n\u201cSingapore looks quite inexpensive. I am actually surprised it hasn\u2019t yet turned,\u201d Chris Fossick, Managing Director at JLL for Singapore and Southeast Asia, told Forbes.
\n\u00a0
\nThis story was originally published on\u00a0property-report.com\u00a0and is reproduced as part of an editorial partnership between PropertyGuru.com and Property Report.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Here\u2019s how one developer is avoiding the Singapore property slump<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Office rentals to tide Ho Bee Land over until the Singaporean market is ready for...<\/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-22191","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\/p75ss1-5LV","jetpack-related-posts":[{"id":21957,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/this-developer-is-avoiding-the-singapore-property-slump-heres-how\/","url_meta":{"origin":22191,"position":0},"title":"This developer is avoiding the Singapore property slump \u2013 here\u2019s how","date":"August 4, 2016","format":false,"excerpt":"\r Office rentals to tide Ho Bee Land over until the Singaporean market is ready for residential Singaporean property investor Ho Bee Land, has been reaping the rewards of its gear shift this decade, playing up office space leasing and shying away from selling residential developments. Revenues in the first\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":22518,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/for-singaporean-investors-theres-no-place-like-cambodia\/","url_meta":{"origin":22191,"position":1},"title":"For Singaporean investors, there\u2019s no place like Cambodia","date":"August 10, 2016","format":false,"excerpt":"\r With a foreign investment regime more open than many ASEAN nations, Cambodia has become the place to be for Singaporean investors With its open, liberal FDI policies, Cambodia is luring Singaporean investors. Image credit: Dmitry A. 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Group turnover increased 19 percent to $42.5 million, while earnings per share dropped\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":21955,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-is-the-second-most-attractive-sector-for-vietnam-fdi\/","url_meta":{"origin":22191,"position":3},"title":"Property is the second most attractive sector for Vietnam FDI","date":"August 4, 2016","format":false,"excerpt":"\r A \u2018Singaporean phenomenon\u2019 is driving massive FDI into Vietnam now Looking to the future in Ho Chi Minh City. Image credit: manhhai (Flickr) Massive amounts of foreign capital continue to spill into Vietnam\u2019s property sector, stemming from more aggressive inflows from Singaporean and other Asian investors than usual. Real\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":106783,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ho-bee-land-profit-down-44-in-q1-2019\/","url_meta":{"origin":22191,"position":4},"title":"Ho Bee Land Profit Down 44% In Q1 2019","date":"May 2, 2019","format":false,"excerpt":"\r This comes as share of profits from associates declined 85 percent \u201cdue to lower sales and profit recognition from a residential development project in Shanghai\u201d. Ho Bee Land saw its net profit for the first quarter of 2019 drop 44 percent to $27.7 million from $49 million over the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":27899,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/pressed-for-land-singaporean-developers-explore-growing-indian-cities\/","url_meta":{"origin":22191,"position":5},"title":"Pressed for land, Singaporean developers explore growing Indian cities","date":"September 30, 2016","format":false,"excerpt":"\r From Millennium City to mountain towns, India\u2019s cities are piquing interest \u2018Cyberhub\u2019 in Gurgaon. Amlan Mathur\/Shutterstock With India urbanising fast, Singaporean developers are taking their projects away from the land-scarce city-state and into the subcontinent\u2019s ever-multiplying cities. 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