On Aug 28, GuocoLand Limited announced its 4Q and full year results, with the Group’s revenue increasing 5% to $1.11 billion. This is driven by higher residential sales and progressive revenue recognition from residential properties in Singapore.

GuocoLand’s Goodwood Residence has been completely sold, and as at end June, the 381-unit freehold Leedon Residence in District 10 is approximately 90% sold. The 1,024-unit Sims Urban Oasis at Sims Drive is approximately 80% sold.

In FY2017, the Group made three land acquisitions: in Singapore’s District 9; Yuzhong District in Chongqing, China; and Cheras in Malaysia. These sites are capable of yielding a potential gross floor area of 9 million sq ft.