Oxley to launch up to 7 projects over 9 months

It is riding on the expected rise in Singapore’s property upcycle.

Oxley Holdings said in an announcement that it plans to launch up to seven projects in Singapore over the next nine months “to capture the expected rise in property upcycle in Singapore.”

The company also said it has $2b worth of unbilled contracts and a gross development value of $15b worth of projects to be launched in its portfolio. Oxley said these projects will provide “substantial earnings visibility going forward and a significant amount of land bank that will contribute to future growth.”

It also told shareholders to look out for the potential awarding of a contract to a consortium it is in (comprising of Oxley Holdings, Min Dharma Co., Ltd and Sino Great Wall Co., Ltd) which has been selected as the preferred for the Yangon Central Railways Station Area Comprehensive Development Project.

Oxley also shared that it is mulling further asset enhancement and refurbishment of Chevron House to increase the net lettable area to improve the potential rental yield and recurrent income.

Oxley purchased prime office building Chevron House from Deka Singapore A Pte Ltd for $660m. Chevron House is a 32-storey commercial development comprising 27 levels of office space and a five-storey retail podium with an existing net lettable floor area of 24,273 sqm.