{"id":46019,"date":"2017-02-27T10:26:32","date_gmt":"2017-02-27T03:26:32","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/uol-net-profit-down-27-to-287m\/"},"modified":"2017-03-01T17:14:52","modified_gmt":"2017-03-01T10:14:52","slug":"uol-net-profit-down-27-to-287m","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uol-net-profit-down-27-to-287m\/","title":{"rendered":"UOL net profit down 27% to $287m"},"content":{"rendered":"


\nArtist\u2019s impression of The Clement Canopy, a new condominium being jointly developed by UOL Group.\u00a0
\nUOL Group\u2019s net profit for the financial year ended 31 December 2016 fell 27 percent to $287 million from $391 million during the previous year, mainly due to valuation losses on investment properties.
\nRevenue climbed 13 percent to $1.44 billion, with the property development segment emerging as the top revenue generator.
\nRevenue from property development jumped 27 percent to $733.9 million, with recognition from Botanique at Bartley, Riverbank@Fernvale and Principal Garden.
\nIn a statement, the group said it sold 484 residential units in Singapore during the fiscal year, even as no new projects were launched.
\nLooking ahead, the group expects demand for new homes to remain subdued this year \u201cas the cooling measures are still in place\u201d.
\n\u201cNevertheless, we believe there\u2019s still demand for projects with good locational and product attributes as seen from the strong interest for The Clement Canopy,\u201d said Liam Wee Sin, Deputy Group CEO at UOL.
\n\u201cWith strong take-up in all our projects, we are looking to replenish our landbank in niche locations,\u201d he added.
\nThe group recently acquired two residential sites \u2013 a large en bloc sale site at Potong Pasir Avenue 1 (the former Raintree Gardens), and a freehold site at 45 Amber Road.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…UOL net profit down 27% to 7m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Artist\u2019s impression of The Clement Canopy, a new condominium being jointly developed by UOL Group.\u00a0...<\/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-46019","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-bYf","jetpack-related-posts":[{"id":54789,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uol-net-attributable-profit-up-4-in-q1\/","url_meta":{"origin":46019,"position":0},"title":"UOL net attributable profit up 4% in Q1","date":"May 15, 2017","format":false,"excerpt":"\r UOL Group\u2019s revenue increased six percent on the back of higher progressive recognition of revenues from ongoing residential projects Principal Garden and Botanique at Bartley (pictured) (Image: UOL Group Limited). UOL Group Limited saw its net profit increase by four percent to S$80.3 million in Q1 2017, mainly due\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":62970,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uol-net-profit-up-59-in-q2\/","url_meta":{"origin":46019,"position":1},"title":"UOL net profit up 59% in Q2","date":"August 7, 2017","format":false,"excerpt":"\r Mainly due to higher revenue recognition from its Singapore condominium project, Principal Garden, UOL saw its net profit increase from\u00a0S$68.8 million in Q2 2016 to S$109.4 million in the second quarter of 2017. (Image: UOL Group Limited) Despite a 59 percent increase in net profit in Q2 2017, UOL\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":112328,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uol-net-profit-down-7-in-q3\/","url_meta":{"origin":46019,"position":2},"title":"UOL net profit down 7% in Q3","date":"November 13, 2019","format":false,"excerpt":"\r The drop in revenue was partially offset by higher progressive recognition of revenue from The Tre Ver and Amber45, as well as higher sales from the group\u2019s management services and technology segment. Photo: UOL UOL Group saw its net profit for the third quarter ended 30 September 2019 drop\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":114648,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uol-net-profit-up-14-to-478-8m-in-2019\/","url_meta":{"origin":46019,"position":3},"title":"UOL net profit up 14% to $478.8m in 2019","date":"March 2, 2020","format":false,"excerpt":"\r The company attributed the hike to higher attributable fair value and other gains of $165.1 million compared with the previous year\u2019s $85.3 million. Photo: Avenue South Residence UOL Group saw its net profit for the full year ended 31 December 2019 increase 14% to $478.8 million from $418.3 million\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":22019,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uols-profit-plunges-55-in-q2-on-investment-losses\/","url_meta":{"origin":46019,"position":4},"title":"UOL's profit plunges 55% in Q2 on investment losses","date":"August 5, 2016","format":false,"excerpt":"\r Artist\u2019s impression of Botanique at Bartley by UOL Group. Property developer UOL Group has reported a 55 percent slump in net profit to S$68.8 million in the second quarter ended 30 June 2016, due mainly to fair value losses on investment properties. The Singapore-listed company recorded losses totalling S$21.5\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":118275,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uol-posts-82-1mil-net-loss-in-1h-2020\/","url_meta":{"origin":46019,"position":5},"title":"UOL posts $82.1mil net loss in 1H 2020","date":"August 18, 2020","format":false,"excerpt":"\r Clavon is set to launch in Q4 2020. Photo: UOL Group.\u00a0 UOL Group reported a net attributable loss of $82.1 million in the first half of 2020 mainly due to fair value losses on investment properties, including serviced suites and retail malls which were significantly affected by COVID-19. This\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\/46019"}],"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=46019"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/46019\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=46019"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=46019"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=46019"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}