Ho Bee Land posts 50% fall in H2 net profit to S$50.4 million

[SINGAPORE] Real estate developer Ho Bee Land on Tuesday (Feb 24) reported a 50 per cent decline in its net profit for the second half of its financial year ended Dec 31, 2025, to S$50.4 million, from S$100.7 million the year before.

Revenue stood at S$262.3 million for H2, down 12 per cent from S$298 million in the year-ago period.

The decline came from the deconsolidation of biomedical and life sciences hub Elementum, decreased rental income, and lower settlements of the group’s development properties.

The board recommended a first and final dividend of S$0.05 per ordinary share for FY2025, an increase from S$0.04 in the previous fiscal year.

Earnings per share stood at S$0.0759 for H2, down from S$0.1517 in the year before.

Cash and cash equivalents stood at S$228.7 million, up from S$183.1 million in H2 FY2024.

Ho Bee Land intends to grow “a strong development pipeline of well-located master-planned communities” in its key markets across Australia, among other initiatives.

It also has major enhancement works slated for 1 St Martin’s Le Grand, an office building in London, for which planning permission was secured in mid-2025.

Nicholas Chua, chief executive officer of Ho Bee Land, added: “We are also embarking on asset-enhancement works at 67 Lombard Street (in London) to strengthen its positioning as a Grade A best-in-class office.”

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Shares of Ho Bee Land ended Tuesday 0.8 per cent or S$0.02 higher at S$2.50.