Singapore Land Group Limited reported net profit attributable to shareholders of S$272.27 million for the year ended Dec 31, 2025, 4 per cent lower year-on-year after a smaller revaluation surplus and a one-off foreign-exchange loss. Revenue rose 7 per cent to S$783.11 million, lifted mainly by higher rental takings from the group’s enlarged commercial portfolio.

Earnings per share came to 19.0 Singapore cents (FY2024: 19.8 cents). The board has proposed an unchanged first-and-final dividend of 4.5 cents per share, tax-exempt one-tier, with record and payment dates to be announced later.

Property investments remained the largest contributor, with revenue climbing 22 per cent to S$333.15 million following the completion of the 50 per cent tenant-in-common acquisition of 388 George Street in Sydney and firmer office and retail rents at Singapore Land Tower, Marina Square and West Mall. The segment generated S$226.74 million in pre-tax results from subsidiaries, up 27 per cent YoY.

Hotel operations posted revenue of S$300.78 million, 2 per cent lower as softer performance at Pan Pacific Singapore and Parkroyal Collection Marina Bay offset improvements at other properties. Pre-tax profit from the segment slipped 9 per cent to S$94.59 million.

Technology operations benefited from stronger demand for hardware and software solutions, lifting revenue 8 per cent to S$141.57 million and segment profit 14 per cent to S$14.14 million. Property development revenue fell 71 per cent to S$4.25 million amid fewer unit completions; segment profit remained marginal at S$0.97 million.

The group’s share of profit from associates increased 39 per cent to S$44.76 million, supported by higher contributions from Mandarin Oriental Singapore and residential projects such as Watten House, Skye at Holland and Parktown Residence. Losses from joint ventures narrowed to S$11.49 million after a smaller fair-value deficit on investment properties.

Offsetting these gains were lower fair-value gains on the group’s own investment properties (S$45.87 million versus S$65.33 million a year earlier) and a S$2.97 million foreign-exchange loss linked to a capital reduction by a China associate.

During the year Singapore Land drew down S$247.83 million in new bank facilities, primarily to fund the 388 George Street purchase and ongoing asset-enhancement works at Singapore Land Tower and the redevelopment of Clifford Centre. Net gearing (after cash) edged up to 4.7 per cent from 2.1 per cent, while undrawn committed facilities exceeded S$1.9 billion.

Looking ahead, management cited expectations of 2-4 per cent GDP growth in 2026. Core CBD office rents are projected to hold firm on limited new supply and flight-to-quality demand; retail is seen achieving modest growth, supported by tourism recovery; the hospitality segment should benefit from higher visitor arrivals despite manpower constraints; and residential demand is expected to stay resilient although price growth may moderate in line with economic conditions.