In its latest annual report, Keppel Land stated that it is upbeat about prospects for residential properties in Singapore and other major markets it operates in.
Last year, the property developer sold 384 homes in the country and 3,100 overseas.
Keppel Land now plans to release more waterfront homes in the country. Following the release of Reflections at Keppel Bay and Caribbean at Keppel Bay, the group has three more residential sites within the area, which will be launched in phases to meet demand. However, it did not provide a time line for the launches.
Keppel said it will remain “disciplined and mindful of the potential policy risks” from further withdrawal of the stimulus measures by the government, as well as the possibility of further measures to curb speculation in the property market.
However, it will still “actively seek attractive residential sites at reasonable prices to ensure a continued stream of residential development profit.”
Overseas, the group has several launches planned in Shenyang, Shanghai, Chengdu and Tianjin this year.
An update on its debt was also provided by the group. Loans outstanding as of end-2009 totalled to $1.7 billion, representing 53 percent of the $3.3-billion total available facilities. Of this amount, $823 million is due this year.
Keppel Land also revealed that Mr. Kevin Wong, chief executive of the group, was paid between $2.25 million and $2.5 million in 2009.