Here's what to expect from UOL's pipeline in 2H

Overseas projects rolling out by year-end.

DBS expects more launch activity in 2H13 with Thomson Three at Bright Hill Drive being marketed currently at $1,300-1,400psf and St Patrick’s Garden to be rolled out in 4Q13.

Here's more from DBS:

Overseas developments, such as Jalan Conlay in Malaysia, is scheduled to come onstream by year-end. On the leasing side, income should be boosted by contribution from one KM Mall (65% pre-leased), slated to open in 2014.

We expect stable hotel contributions as higher operating costs could weigh down income from contribution of new hotels.

UOL produced a consistent set of results in 2Q13, with 2% higher revenue of S$304.3m, and flat bottom line stripping out property revaluations.

Progressive billings from Spottiswoode, Katong Regency and Waterbank at Dakota comprised the bulk of the Group’s earnings, and hotel income improved yoy on the back of contributions from the newly-opened Parkroyal on Pickering.

Recurring income rose on higher dividends from investment holdings, as well as higher rentals for Novena Square and United Square.

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