Strong Sales of Private Homes: UOL's Net Profit Increased by 58% in the First Half of the Year | Lianhe Zaobao
UOL's net profit (PATMI) in the first half of 2025 increased by 58% year-on-year, reaching SGD 205.55 million, with revenue growing by 22% to SGD 1.5493 billion. The increase in net profit was mainly due to the strong performance of real estate development and investment businesses, as well as the proceeds from the sale of the Yangon Pan Pacific Hotel. Revenue from real estate development grew by 40%, with strong sales in high-end private residential projects, as 64% of units in Aojie Jiayuan have been sold, and 92% of units in PARKTOWN Residence have been sold
Driven by growth in most of its businesses, UOL's net profit after tax and minority interests (PATMI) for the first half of 2025 increased by 58% year-on-year to SGD 205.55 million. Revenue for the first half rose by 22% year-on-year to SGD 1.5493 billion.
UOL released its half-year results after the market closed on Wednesday (August 13). UOL President Nian Weixin stated that the performance reflects the resilience of the group's diversified investment portfolio. Against the backdrop of a reshaping global trade order, the group will continue to strictly adhere to the principles of portfolio management, project execution, and capital allocation.
The group pointed out that the increase in net profit was mainly attributed to the strong performance of its real estate development and investment businesses, as well as other income from the sale of the Parkroyal Hotel in Yangon.
Revenue from the real estate development business in the first half increased by 40% year-on-year to SGD 731.7 million, primarily due to the gradual recognition of revenue from projects such as Pinetree Hill, Watten House, and Meyer Blue in Singapore.
In addition, management mentioned during the earnings call that the luxury private residential project UpperHouse@Orchard Boulevard, which launched in July, has seen strong sales, with 64% of units sold to date. The PARKTOWN Residence, which launched in February, has sold 92% of its units to date.
Nian Weixin stated that recent sales performance of residential projects has been robust, with demand gradually concentrating in the Core Central Region (CCR). He believes this is mainly due to the narrowing price gap between the Core Central Region and other central regions, as well as strong local household income levels. He also speculated that there are quite a number of "parent-funded buyers" in the market.
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[UOL's net profit for the second half falls 60% year-on-year to SGD 22.78 million]
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He pointed out that the adjustment of seller's stamp duty announced by the government recently has little impact on project sales. Despite a series of cooling measures, "high-quality projects in prime locations still receive strong market responses."
In addition, the group is actively replenishing its project reserves, including the Skye at Holland project, which will be previewed in September, and the Thomson View site located at Bright Hill Road.
In terms of real estate investment business, the group's revenue in the first half of the year increased by 12% year-on-year to 336 million, mainly due to revenue from the acquisition of 388 George Street, Sydney in January 2025, the good performance of Singapore Land Tower after asset upgrades completed in December 2024, and new revenue contributions from the Odeon 333 project in Singapore, which started operations in July 2024.
Hotel business revenue slightly declined by 0.6% to 375.4 million.
UOL's stock price closed up 1.56% on Wednesday, at 7.16 SGD
