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Business Times
3 days ago
- Business
- Business Times
OUE back in the black with H1 net profit of S$35.6 million
[SINGAPORE] OUE recorded a net profit of S$35.6 million for the first half of 2025, reversing from the S$96.1 million loss in the year-ago period. The real estate and healthcare group on Thursday (Aug 14) said the turnaround was due mainly to S$94.9 million in provisional negative goodwill recognised for the acquisition of additional equity interests in an equity-accounted investee. It also cited higher adjusted earnings before interest and taxes, as well as greater finance income. However, H1 revenue fell 6.9 per cent to US$292.8 million, from S$314.5 million in the same period the year before. 'This was mainly due to lower contribution from the group's real estate segment, which decreased 9.7 per cent to S$194.5 million from S$215.4 million in H1 2024,' OUE said. In the latest period, the group's investment properties and fund management division recorded an 8.5 per cent decline in revenue to S$95.1 million. This was attributed largely to the absence of contributions from Lippo Plaza Shanghai, which was divested last December. Hospitality division revenue was 9.8 per cent lower at S$99.2 million in H1 2025, following a high base in 2024 which was driven by several high-profile events and concerts in Singapore, as well as the start of the visa-waiver arrangement between the city-state and China. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Softer travel demand and consumer spending, ongoing macroeconomic headwinds and geopolitical tensions also weighed on the performance in H1 2025. OUE's healthcare segment revenue was S$75.3 million, comparable with the S$76.3 million in H1 2024. The group's other revenue segment – primarily contributions from its food and beverage operations – recorded S$23 million in H1, up slightly from the S$22.8 million the year before. OUE said: 'While dining concepts launched last year contributed for the full period, this was offset by softer consumer demand amid macroeconomic uncertainties and market saturation.' The group reported earnings per share of S$0.047 in H1 2025, as opposed to a loss per share of S$0.1142 in H1 2024. An interim dividend of S$0.01 per share was declared, unchanged from that in the year-ago period. 'Despite the challenging backdrop, the group's portfolio, comprising prime and strategically located commercial properties with a diversified tenant base, hospitality and retail assets, as well as the complementary healthcare segment, is expected to provide stable performance in 2025,' OUE said. Shares of OUE closed flat at S$1.12 on Thursday, before the announcement.
Straits Times
30-05-2025
- Business
- Straits Times
Upcoming Hotel Indigo Changi Airport to offer indoor ‘rainforest' and control tower views
An artist's impression of Hotel Indigo Changi Airport's indoor rainforest. ILLUSTRATION: OUR SINGAPORE – Hotel Indigo Changi Airport, set to stand beside Terminal 2, will offer a 'distinctive local experience' and incorporate sustainable elements into its design, said property developer OUE. The Hotel Indigo Changi Airport will celebrate the spirit of Changi, said OUE at the May 29 groundbreaking ceremony of the hotel it is developing under a joint venture with Japanese non-banking financial services company Tokyo Century. The 255-room hotel, scheduled to be ready and fully operational by 2028, will also be Singapore's first hotel to attain 'zero-energy' certification level under the Green Mark Scheme of the Singapore Building and Construction Authority (BCA), the group said. Under the scheme, zero-energy buildings are those that consume energy entirely from renewable energy sources. The top floor of Hotel Indigo Changi Airport, level eight, will feature an infinity pool, a gym and a bar that offers panoramic views of the airport, OUE said. An indoor rainforest in the hotel will blend urban architecture with seven storeys of lush greenery. Upon arrival at the Floating Forest, hotel guests will be greeted by a foliage-enveloped lobby furnished with lanterns and a water-covered skylight with views of hanging plants. The glass and timber lifts that bring guests to their rooms will take them up through the 'forest' on an immersive journey with nature. Locally inspired features Hotel Indigo Changi Airport will pay homage to Changi Airport's ongoing evolution as a gateway to the world by drawing inspiration from its past, present and future, OUE said. Locally inspired design and curated artwork will be incorporated into the hotel's public spaces and guest rooms, it said. The hotel has direct access to Terminal 2. It will provide views of key airport landmarks, including the tree-lined Airport Boulevard that leads up to the iconic control tower, Crowne Plaza Changi Airport and Jewel Changi Airport. A rooftop oasis on the eighth floor of the hotel will provide views of Changi Airport. ILLUSTRATION: OUE Beyond incorporating nature in its design, the hotel will deploy sustainability initiatives to minimise environmental impact while ensuring guests' comfort and well-being, OUE said. These include green building strategies, smart energy management systems and eco-friendly technologies. Notably, there are plans to install photovoltaic solar panels on the hotel's rooftop and its adjacent coach stand, as well as on selected facades, OUE said. These solar panels will harness renewable energy to minimise the facility's carbon footprint and achieve zero-energy operations. Naturally ventilated corridors integrated with hybrid cooling systems will reduce the hotel's reliance on air-conditioning; its shaded facades provided by the Floating Forest and its use of rainwater-harvesting technology will be among its other sustainability features. THE BUSINESS TIMES Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
30-05-2025
- Business
- Business Times
Upcoming Hotel Indigo Changi Airport to offer indoor ‘rainforest' and control tower views
[SINGAPORE] Hotel Indigo Changi Airport, set to stand beside Terminal 2, will offer a 'distinctive local experience' and incorporate sustainable elements into its design, said OUE on Thursday (May 29). The Hotel Indigo Changi Airport will celebrate the spirit of Changi, said the property developer at the groundbreaking of the hotel it is developing together with Japanese non-banking financial services company, Tokyo Century. The 255-room hotel, scheduled to be ready and fully operational by 2028, will also be Singapore's first hotel to attain 'zero-energy' certification level under the Green Mark Scheme of the Singapore Building and Construction Authority (BCA), the group said. Under the BCA's scheme, 'zero-energy' buildings are those that consume energy entirely from renewable energy sources. Here's a look at what the hotel will offer. Rooftop oasis, indoor rainforest among features The top floor of Hotel Indigo Changi Airport, level eight, will feature an oasis with an infinity pool, a gym and a bar, that offers panoramic views of the airport, OUE said. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up An indoor rainforest in the hotel, poised to be a new icon, will blend urban architecture with seven storeys of lush greenery. The Floating Forest blends urban architecture with seven storeys of lush greenery. ILLUSTRATION: OUE Upon arrival at the Floating Forest, hotel guests will be greeted by a foliage-enveloped lobby furnished with lanterns and a water-covered skylight with views of hanging epiphytes. The glass and timber elevators that bring guests to their rooms will take them up through the 'forest' on an immersive journey with nature. Locally inspired features Hotel Indigo Changi Airport will pay homage to Changi Airport's ongoing evolution as a gateway to the world by drawing inspiration from its past, present and future, OUE said. Locally-inspired design and curated artwork will be incorporated into the hotel's public spaces and guest rooms, it said. With direct access to Terminal 2, the hotel will be linked to the rest of Changi Airport. It will provide views of key airport landmarks, including its tree-lined Airport Boulevard that leads up to the iconic control tower, Crowne Plaza Changi Airport and Jewel Changi Airport. A rooftop oasis on the eighth floor of the hotel will provide views of Changi Airport. ILLUSTRATION: OUE Beyond incorporating nature in its design, the hotel will deploy sustainability initiatives to minimise environmental impact while ensuring guests' comfort and well-being, OUE said. These include green-building strategies, smart-energy management systems and eco-friendly technologies. Notably, there are plans to install photovoltaic solar panels on the hotel's rooftop and its adjacent coach stand, as well as on selected facades, OUE said. These solar panels will harness renewable energy to minimise the facility's carbon footprint and achieve zero-energy operations. Naturally-ventilated corridors integrated with hybrid cooling systems will reduce the hotel's reliance on air conditioning; its shaded facades provided by the Floating Forest and its use of rainwater-harvesting technology will be among its other sustainability features.
