Oxley Holdings’ overseas diversification effort is finally bearing fruit, with its projects in Cambodia and London witnessing steady take-up rates.
Notably, Oxley posted robust earnings in Q1 FY2015 on the back of S$3 billion presales in Singapore and S$1.6 billion sales from its projects in Cambodia and London, revealed OSK DMG and reported in the media.
The group booked contributions from its projects in Singapore in the third quarter of the year, most of which were substantially sold. The projects are expected to yield over S$700 million of profits over the next two years.
“Following the recent launch of Royal Wharf Phase 2 in London, UK, Oxley has sold more than 1,400 units in the 3,300-unit development and generating presales of £700 million (S$1.428 billion),” noted OSK DMG.
Over in Cambodia, the group sold more than 50 percent of the residential/small office home office (SOHO) units in its flagship project, The Bridge (pictured), and generated sales of US$170 million (S$221 million).
“The next major launch is Oxley’s KLCC project after legal completion of the land purchase in January 2015. With the acquisition of land development rights in Myanmar, the group has now extended its reach to five overseas countries,” the report said.
Muneerah Bee, Senior Journalist at PropertyGuru, edited this story. To contact her about this or other stories email muneerah@propertyguru.com.sg
