GuocoLand has reported higher revenue for its fiscal year 2025, which ended on June 30. The company saw growth across both its development and investment segments, however, its net profit fell 17% year-over-year to $107 million due primarily to an allowance for its development properties in China. Despite the decline in earnings, the board has proposed a final dividend of 7 cents per share, which is higher than the consistent 6 cents paid annually over the past five years. The latest information on available units and prices for Springleaf Residence can be found below.
“Both our twin engines of property development and property investment in Singapore have contributed to our strong performance for FY2025, despite pervasive macroeconomic uncertainties,” says group CEO Cheng Hsing Yao. “We expect our businesses in Singapore to stay resilient going forward.” Cheng adds.
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The company reported a property development revenue of $1.56 billion for FY2025, up 3% year-over-year. This increase was driven by progressive recognition of sales from substantially sold residential projects in Singapore. The property investment segment saw a 22% year-over-year growth in revenue, reaching $281 million, supported by higher rental contributions from Guoco Tower and Guoco Midtown. As of June 30, both Guoco Tower and Guoco Midtown were close to 100% occupied, and another office property, 20 Collyer Quay, recorded a 98% commitment rate. Retail spaces at Guoco Tower, Guoco Midtown, and the newly completed Guoco Midtown II maintained full occupancy.
The company’s residential projects in Singapore also saw strong demand, with Midtown Modern and Lentor Modern fully sold during FY2025. In addition, Lentor Hills Residences, Lentor Mansion, and the newly launched Lentor Central Residences were substantially sold as of June 30. Earlier this month, GuocoLand launched Springleaf Residence, a 941-unit project in the Springleaf precinct, which achieved a 92% sell-through rate over its launch weekend at an average price of $2,176 psf based on caveats lodged.
However, the outlook in China remains subdued, with continued challenges in the market due to sector consolidation, geopolitical tensions, and broader economic headwinds. The company made provisions of $82.8 million for foreseeable losses on its Chinese development properties in FY2025, compared with $103.8 million in FY2024.
“While development earnings are more cyclical, depending on the timing of land acquisitions and project launches, GuocoLand’s investment portfolio provides steady recurring income,” says Cheng. “We will continue to exercise discipline and prudence as we actively seek new growth opportunities, ensuring sustainable long-term value creation for shareholders.”
GuocoLand’s shares closed at $1.88 on August 28, unchanged for the day but up 30.6% year-to-date. Even so, the counter trades at less than half its net asset value of $3.90 per share as of June 30.