According to the group, this was due to higher sales from its Sentosa Cove properties and properties in Australia. The group’s total rental income was up by 8% y-o-y to $135.3 million mainly due to additional contributions from Elementum. Earlier today, the group announced the divestment of a 49% stake in the property for $134 million.
Ho Bee Land has reported earnings of $8.8 million for the 1HFY2024 ended June 30, reversing from a loss of $155.7 million in the 1HFY2023
Revenue for the period surged by 48% y-o-y to $230.0 million as the group’s development property sales more than tripled to $94.7 million from $29.9 million.
