UOL keeps picky stance in landbanking in Singapore

As it targets boosting investment properties.

According to DBS, looking ahead, the group would continue to be selective in terms of landbanking in Singapore and look to building up its investment properties and hospitality assets.

It had committed cS$1bn in recurrent income projects such as 1 Upper Pickering, PARKROYAL on Pickering, Pan Pacific Serviced Suites and OneKM and will continue to deliver a pipeline of hotels and svc residences to expand the PARKROYAL and Pan Pacific brands across Asia including Shanghai, China and Bogor, Indonesia.

Here's more from DBS:

The OneKM Mall is currently 50% pre-committed and is on track to open in 2014. In development properties, it expects to TOP 3 projects this year and will launch 631 units from the Bright Hill Drive site in June, followed by St Patrick’s Garden site in July.

Overseas, it will offer more blocks at The Esplanade in Tianjin and launch The Panorama in KL towards end 2013. This would continue to drive earnings visibility going forward.