Even though Singapore is a relatively small country, its real estate industry is booming as well as its economy. Given the limited space, the real estate market is literally growing up instead of growing wide. As Singapore is the world’s transport & logistics, financial and IT hub, the demand for residential and office properties is continuously growing year after year to accommodate all the expats and their families. PricewaterhouseCoopers and Urban Land even declared the real estate market of Singapore the 2nd biggest in the Asia Pacific region.
The real estate industry is one of the leading local economy sectors. It has accounted for half of the total fixed capital formation in the last 5 years. It is very investment-attractive and has plenty of opportunities to offer. We at Global Database decided to shed some light on the situation in the real estate sector in Singapore by selecting the most prominent companies in the area and analysing their net income changes recorded in 2018.
1. Hongkong Land ($1.78B, -57%)
3. Genting Singapore ($545.97M, +10%)
4. Global Logistics Properties ($540M, -30%)
5. CapitaLand Mall Trust ($489.13M, +2%)
6. City Developments Limited ($402.82M, +6%)
7. CapitaLand Commercial Trust ($377.32M, -10%)
8. Ascendas Real Estate Investment Trust ($357.13M, +15%)
9. UOL Group Limited ($313.48M, -58%)
10. Far East Organization ($29.99M, +26%)
*All figures are in USD. M: Millions of USD, B: Billions of USD
*SGD was converted to USD using an average exchange rate of 1.38 SGD to 1 USD
1. Hongkong Land ($1.78B, -57%)
Hongkong Land (further HKL) is a holding, investing in properties, owning 165,000 sq.m. of high-class office property in Singapore. HKL develops and manages properties across Asia, thus getting a decent net income. 2018 seems to have been hard on the company, as its net income has dropped down by 57% to $1.78B in comparison with 2017.
2. CapitaLand ($1.27B, +11%)
CapitaLand Limited (further CapitaLand) is one of the biggest real estate enterprises in Asia, with a net income of $1.27B as of 2018. This number was claimed by the company to be the highest in the last decade. Headquartered in Singapore, it has grown by 11% compared to 2017 due to the company’s successful operations in 160 cities across 60 countries in Asia.
3. Genting Singapore ($545.97M, +10%)
Genting Singapore PLC (further Genting Singapore) is a leisure and hospitality company from Singapore, operating across five continents for the last 20 years. It’s famous for one of the 2 integrated resorts with casinos in its home country. Genting Singapore’s net income has grown by 10% since 2017, reaching the mark of $545.97M by the end of 2018.
4. Global Logistics Properties ($540M, -30%)
Global Logistics Properties (further GLP) is the biggest logistics facilities developer and operator in Singapore with a net income of $540M as of 2018, 30% lower than that of 2017. GLP is serving clients all over the world, its main markets being Japan, Brazil and China.
5. CapitaLand Mall Trust ($489.13M, +2%)
CapitaLand Mall Trust (further CMT) is a real estate company, investing in used assets in Singapore. In 2018, it managed to achieve the highest portfolio CAGR for the last 10 years (5.4%) and to grow its net income by 2% up to $489.13M compared to the previous year.
6. City Developments Limited ($402.82M, +6%)
City Developments Limited (further CDL) is a flourishing Singaporean company that owns and develops across 29 countries and regions. It had grown its net income from $377.41M in 2017 to $402.82M in 2018. CDL now aims to achieve US$5B in assets under management by 2023.
7. CapitaLand Commercial Trust ($377.32M, -10%)
CapitaLand Commercial Trust (further CCT) is a company from Singapore, focused on investments in real estate. CCT is a subsidiary of CapitaLand Limited, that got $377.32M net income in 2018, while 2017 was marked by a higher net income ($418.36M).
8. Ascendas Real Estate Investment Trust ($357.13M, +15%)
Ascendas Real Estate Investment Trust (further Ascendas REIT) is an industrial trust from Singapore, operating in the real estate sector. Ascendas REIT focuses mostly on business and science park properties, as well as retail and logistics centres. It reached a net income of $357.13M in 2018, which is 15% higher than that of 2017.
9. UOL Group Limited ($313.48M, -58%)
UOL Group Limited (further UOL) is yet another property company in Singapore that has had a tough year in 2018. Its net income decreased by 58% and reached the mark of $313.48M in 2018, compared to $636.2M in 2017. UOL is the company behind the famous Pan Pacific and PARKROYAL brands.
10. Far East Organization ($29.99M, +26%)
Far East Organization (further FEO) is the most prominent property developer in Singapore, owning 750 properties in the home country. The company is operating 2 main subsidiaries, one of them being the famous Far East Orchard Limited. FEO managed to grow its net income by +26% getting $29.99M in 2018.
