UOL Group Limited reported net profit attributable to shareholders of S$481.7 million for the year ended 31 December 2025, up 34% year-on-year, lifted by stronger contributions from property development and property investments.
Earnings per share figures were not disclosed, but the board proposed a first-and-final dividend of S$0.18 per share plus a special dividend of S$0.07, bringing the total payout to S$0.25 per share. The payment timetable will be announced later, the company said.
Group revenue rose 16% YoY to S$3.23 billion. Property development revenue increased 26% to S$1.51 billion, driven by progressive recognition from Pinetree Hill, Watten House, MEYER BLUE and the newly launched UPPERHOUSE at Orchard Boulevard. Property investments contributed S$629.3 million, up 13%, aided by the January 2025 acquisition of a stake in 388 George Street, Sydney, and improved occupancy at Singapore Land Tower and Odeon 333. Pre-tax profit before fair-value gains climbed 33% to S$708.0 million, while share of profit from associates and joint ventures swung to S$33.2 million from a loss a year earlier on higher contributions from PARKTOWN Residence, Skye at Holland and Mandarin Oriental Singapore.
Operating expenses rose in tandem with activity levels: marketing costs advanced 20% to S$151.5 million on higher residential sales efforts, and administrative expenses grew 10% to S$179.5 million. Finance expenses fell 14% to S$175.9 million as lower gearing and interest rates reduced borrowing costs; the average interest rate on external debt declined to 3.29% from 3.73% a year earlier. Net gearing improved to 0.20 from 0.23.
Chief executive Liam Wee Sin said the Singapore residential market remained healthy, underpinning “income visibility for the next two years”. He noted that recent site acquisitions at Thomson View, Dorset Road and Hougang Central will replenish the company’s landbank, while asset-enhancement initiatives and hotel refurbishments are bolstering recurring income. He added that divestments of PARKROYAL Yangon, PARKROYAL Saigon and KINEX will free up capital for value-accretive opportunities.
Looking ahead, UOL expects private-home demand in Singapore to stay stable amid low unemployment and easing interest rates, with price growth likely to moderate. Office rents are projected to register steady gains on limited supply in the central business district, and retail rents are expected to see modest growth despite manpower constraints. The hospitality segment should benefit from Singapore’s safe-haven status, though global uncertainties and evolving travel patterns may temper growth.
Strategic priorities for 2026 include the redevelopment of Clifford Centre, progressing Marina Square’s Strategic Development Incentive application, and continued portfolio rebalancing to enhance returns, management said. The group ended the year with shareholders’ funds of S$11.78 billion, up from S$11.53 billion in 2024, and a net tangible asset value of S$13.88 per share.