{"id":69546,"date":"2017-10-20T11:26:28","date_gmt":"2017-10-20T04:26:28","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/guocoland-net-profit-soared-to-165-6mil-in-q1\/"},"modified":"2017-10-20T13:04:35","modified_gmt":"2017-10-20T06:04:35","slug":"guocoland-net-profit-soared-to-165-6mil-in-q1","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/guocoland-net-profit-soared-to-165-6mil-in-q1\/","title":{"rendered":"GuocoLand net profit soared to $165.6mil in Q1"},"content":{"rendered":"


\nGuocoLand saw its first-quarter net profit grow more than six-fold to $165.6 million from $25.6 million over the same period last year.
\nRevenue soared 79 percent to $362 million from $202.8 million, mainly due to higher sales and progressive recognition from its residential projects in Singapore.
\nThe group\u2019s share of profit of associates and joint ventures also rose to $170.5 million from a share of loss amounting to $119,000 previously.
\nThe increase was primarily contributed by Changfeng Residence, GuocoLand\u2019s joint venture residential project in Shanghai. The project was completed and substantially sold during the quarter.
\nLooking ahead, GuocoLand said it remains committed to the Singapore market. In fact, it has acquired a prime commercial site in Beach Road for the \u201cdevelopment of a new iconic city-centre work-live-play destination\u201d.
\nThis comes as the Urban Redevelopment Authority\u2019s flash estimates showed an increase of 0.5 percent in private home prices after 15 consecutive quarters of decline, while several property consultants believe that Grade A office rents in the central business district have picked up.
\nThe group noted that the housing market in China has shown further signs of moderation in some bigger cities, according to data from National Bureau of Statistics of China.
\nShanghai saw new home prices increase 2.8 year-on-year in August, but were unchanged on a monthly basis, while home prices in Chongqing rose 12.8 percent year-on-year and 0.3 percent month-on-month.
\nIn Malaysia, GuocoLand revealed that it remains \u201cfocused on monetising the inventory and delivery of its development projects\u201d.
\n\u00a0
\nThis article was edited by Keshia Faculin.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…GuocoLand net profit soared to 5.6mil in Q1<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

GuocoLand saw its first-quarter net profit grow more than six-fold to $165.6 million from $25.6...<\/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-69546","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-i5I","jetpack-related-posts":[{"id":78747,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/guocoland-q2-revenue-grows-60\/","url_meta":{"origin":69546,"position":0},"title":"GuocoLand Q2 revenue grows 60%","date":"February 2, 2018","format":false,"excerpt":"\r The strong financial results was due mainly to good sales and higher revenue recognition from Singapore residential projects. GuocoLand\u2019s revenue surged by 60 percent year-on-year to $370.56 million in the second quarter ended 31 December 2017, due mainly to higher sales and contributions from its housing developments in Singapore,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":64770,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/guocoland-q4-net-profit-soars-to-s244-85mil\/","url_meta":{"origin":69546,"position":1},"title":"GuocoLand Q4 net profit soars to S$244.85mil","date":"August 28, 2017","format":false,"excerpt":"\r \u00a0 Developer GuocoLand\u2019s net profit surged to $244.85 million in the fourth quarter ended 30 June 2017 from S$39.85 million in the same period a year ago, while revenue soared to S$407.37 million from S$214.48 million, revealed an SGX filing on Saturday (27 August). \u201cGuocoLand has delivered a creditable\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":41548,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/guocoland-posts-s57-12mil-net-profit-in-q2\/","url_meta":{"origin":69546,"position":2},"title":"GuocoLand posts S$57.12mil net profit in Q2","date":"January 23, 2017","format":false,"excerpt":"\r Thanks to higher earnings of a subsidiary, GuocoLand\u2019s net profit surged by 46 percent to S$57.12 million for the second quarter ended 31 December 2016 compared to S$39.03 million in the prior year. However, revenue slid by 3.0 percent to S$231.98 million versus S$239.50 million previously. \u201cShare of profit\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":103567,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/guocoland-starts-construction-of-guoco-midtown-despite-84-earnings-plunge\/","url_meta":{"origin":69546,"position":3},"title":"GuocoLand starts construction of Guoco Midtown despite 84% earnings plunge","date":"February 1, 2019","format":false,"excerpt":"\r The Group recently broke ground for the integrated mixed-use development Guoco Midtown in Singapore. GuocoLand\u2019s earnings plunged by 84 percent to $10.85 million in the second quarter ended 31 December compared to about $66.01 million during the same period a year ago, according to an SGX filing on Thursday\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":67582,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/guocoland-leads-nominations-for-propertyguru-awards\/","url_meta":{"origin":69546,"position":4},"title":"GuocoLand leads nominations for PropertyGuru Awards","date":"September 27, 2017","format":false,"excerpt":"\r Singapore\u2019s best residential, commercial, industrial and green properties will be awarded.\u00a0 More than 20 real estate projects from 16 companies and joint venture firms have been shortlisted for the PropertyGuru Asia Property Awards (Singapore) 2017, the most prestigious real estate competition here. Presented by Kohler and supported by PropertyGuru,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":116527,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/guocoland-obtains-730mil-green-loan-for-tan-que-lan-street-mixed-development-project\/","url_meta":{"origin":69546,"position":5},"title":"Guocoland obtains $730mil green loan for Tan Que Lan Street mixed-development project","date":"May 20, 2020","format":false,"excerpt":"\r The new mixed-development project at Tan Que Lan Street will be situated right above the Bugis MRT interchange station. Photo: Midtown Bay GuocoLand via its indirect subsidiaries, MTG Apartments and MTG Retail, has secured a $730 million green club loan from DBS Bank, OCBC Bank and ICBC Singapore Branch\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\/69546"}],"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=69546"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/69546\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=69546"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=69546"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=69546"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}