Keppel Land on Tuesday said its third-quarter net profit has more than doubled on-year as a result of strong residential sales. Net profit came in at almost S$82 million.
This compares with S$38.5 million in the year ago period.
Meanwhile, revenue jumped by almost 50 percent to S$382 million.
This is due to improved returns from property trading in Singapore, China and India.
Keppel Land's sales were also supported by a new project in the Chinese city of Shanghai.
The property firm said it expects to book a profit of more than S$221 million from selling a one-third stake in its One Raffles Quay building to K-Reit. - CNA/ms
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