{"id":79844,"date":"2018-02-14T10:05:16","date_gmt":"2018-02-14T03:05:16","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/roxy-pacific-to-launch-six-sites-for-sale-in-2018\/"},"modified":"2018-02-14T10:09:33","modified_gmt":"2018-02-14T03:09:33","slug":"roxy-pacific-to-launch-six-sites-for-sale-in-2018","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/roxy-pacific-to-launch-six-sites-for-sale-in-2018\/","title":{"rendered":"Roxy-Pacific to launch six sites for sale in 2018"},"content":{"rendered":"


\nRoxy-Pacific bought Harbour View Gardens for $33.25 million in 2016. (Photo: Colliers International)
\nRoxy-Pacific Holdings reported a revenue of $43.3 million during the fourth quarter of 2017, down 53 percent from $93.1 million over the same period in 2016. Net profit also fell 39 percent to $7.3 million from $11.9 million in Q4 2016.
\nFor the full-year 2017, revenue fell 36 percent to $246.8 million, while net profit dropped 41 percent to $29.4 million.
\nThe property development segment remained the key revenue driver of the group, accounting for 78 percent of total group revenue in FY2017.
\nRoxy-Pacific noted that the segment\u2019s comparatively lower revenue in FY2017 of $191.8 million from 2016\u2019s $326.6 million was \u201cmainly due to the absence of revenue recognised in FY2016 on projects that had completed in 2016 and early 2017\u201d.
\nMeanwhile, Roxy-Pacific revealed that it currently counts 10 development sites in Singapore as its land bank. Of these, it plans to launch six development sites for sale this year, including The Navian and development sites at Grange Road, Upper Bukit Timah Road, Guillemard Lane as well as Harbour View Gardens at Pasir Panjang and River Valley.
\nComprising a total of 440 units, these projects are expected to positively contribute to the earnings of the group progressively from the first quarter of 2019.
\n\u201cOver the last couple of years, we\u2019ve progressively accumulated predominantly freehold sites at attractive prices amidst the property downturn,\u201d said Roxy-Pacific executive chairman and CEO Teo Hong Lim.
\n\u201cNow that prices and sales volumes are picking up, we are well positioned to ride on this turnaround with six property launches planned for this year. We\u2019ll continue to prudently strengthen our land bank while focusing on execution to ensure sustainable long-term growth.\u201d
\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…Roxy-Pacific to launch six sites for sale in 2018<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Roxy-Pacific bought Harbour View Gardens for $33.25 million in 2016. (Photo: Colliers International) Roxy-Pacific Holdings...<\/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-79844","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-kLO","jetpack-related-posts":[{"id":62402,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/roxy-pacific-net-profit-down-26-in-q2\/","url_meta":{"origin":79844,"position":0},"title":"Roxy-Pacific net profit down 26% in Q2","date":"August 1, 2017","format":false,"excerpt":"\r Artist\u2019s impression of LIV on Sophia, an apartment project that is expected to be completed in 2018. Roxy-Pacific Holdings saw its net profit drop 26 percent to $14.7 million in Q2 2017 from $19.9 million over the same period last year. Revenue also declined 21 percent from $98.4 million\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":55807,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singhaiyi-posts-strong-fy2017-net-attributable-profit-despite-lower-revenue\/","url_meta":{"origin":79844,"position":1},"title":"SingHaiyi posts strong FY2017 net attributable profit despite lower revenue","date":"May 24, 2017","format":false,"excerpt":"\r Sales of completed units from its commercial condominium project in US, Vietnam Town (pictured), contributed to SingHaiyi\u2019s revenue in FY2017. (Image: SingHaiyi Group) Despite an 83.6 percent drop in revenue, SingHaiyi Group saw its net attributable profit for the financial year ended 31 March 2017 increase by 6.1 percent\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":63048,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/roxy-pacific-buys-freehold-river-valley-site-for-110m\/","url_meta":{"origin":79844,"position":2},"title":"Roxy-Pacific buys freehold River Valley site for $110m","date":"August 8, 2017","format":false,"excerpt":"\r View of the vacant lot, which is expected to be developed into an apartment project comprising over 100 units. (Photo: Roxy-Pacific Holdings)\u00a0 Roxy-Pacific Holdings subsidiary RH Capital Two has signed an agreement to acquire a freehold residential site along River Valley Road for $110 million, the group announced on\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":91214,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/roxy-pacific-set-to-redevelop-kismis-view-en-bloc-site\/","url_meta":{"origin":79844,"position":3},"title":"Roxy-Pacific set to redevelop Kismis View en bloc site","date":"June 12, 2018","format":false,"excerpt":"\r A Roxy-Pacific led joint venture intends to combine the Kismis View site with an adjacent plot to create a huge residential redevelopment measuring 100,336 sq ft. (Photo: JLL) Singapore-listed property developer Roxy-Pacific Holdings is poised to redevelop the Kismis View en bloc site after obtaining the necessary approvals, revealed\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":79456,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/roxy-pacific-has-big-plans-for-kismis-view-site\/","url_meta":{"origin":79844,"position":4},"title":"Roxy-Pacific has big plans for Kismis View site","date":"February 9, 2018","format":false,"excerpt":"\r A Roxy-Pacific led joint venture intends to combine the Kismis View site with an adjacent plot to create a huge residential redevelopment measuring 100,336 sq ft. (Photo: JLL) Following their $102.75 million en bloc purchase of the 90,863 sq ft Kismis View site last month, Roxy-Pacific Holdings and its\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":26153,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/roxy-pacific-buys-another-site-at-jalan-eunos\/","url_meta":{"origin":79844,"position":5},"title":"Roxy-Pacific buys another site at Jalan Eunos","date":"September 15, 2016","format":false,"excerpt":"\r The developer plans to amalgamate the site with an adjoining freehold site that was previously acquired for residential development.\u00a0 RH Eunos, a unit of property developer Roxy-Pacific Holdings, has agreed to purchase a freehold residential site at Jalan Eunos for $10.978 million. Comprising lots at 180,182 and 184 Jalan\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\/79844"}],"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=79844"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/79844\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=79844"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=79844"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=79844"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}