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Bond Market News
Oxley Secures S$4.3bn in Sales for Singapore Development Projects
August 17, 2021
Real estate developer Oxley Holdings said it has secured S$4.3bn ($3.2bn) in sales for its development projects in Singapore. In a bourse filing, Oxley said that it has sold about 91% of its residential units, representing 87% of the total gross development value (GDV). Oxley has currently secured 60% of the sales amounting to ~S$2.6bn ($1.9bn) and the future progress billings of ~S$1.7bn ($1.3bn) are pending.
In addition, the developer had obtained temporary occupation permits (TOP) for its fully sold freehold development The Verandah Residence, the group’s fourth out of 10 residential development projects in Singapore to obtain TOP. The GDV of Verandah Residence is S$249mn ($183mn) and the estimated profit before taxes is approximately S$50mn ($37mn) as per Business Times.
Oxley’s SGD 6.5% 2023 was stable at 100.5 yielding 6.15%
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