Keppel Land, Singapore's third-largest property developer by market value, said on Tuesday its third-quarter net profit more than doubled on strong luxury home sales and higher office rents.The firm, partly owned by conglomerate Keppel Corp, said it earned a net profit of $81.8 million (US$55.8 million) in the July-to-September quarter this year, up from $38.5 million in the same period last year.
Like rival developers CapitaLand and City Developments , Keppel Land has benefited from Singapore's resurgent property market, which has seen luxury apartments sold at record prices.
Keppel Land controls K-Reit Asia, a property trust based on Singapore office buildings. -- REUTERS
Related Link -
http://tinyurl.com/2b25gd
Keppel Land's press release
http://tinyurl.com/yvfcf7
Financial statement
http://tinyurl.com/286b4z
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