Keppel Land to develop Keppel Towers & GE Tower

Question is, when will the launch be?

Here's what OCBC Investment Research has to say:

Singapore sales mostly from The Luxurie
KPLD sold ~100 residential units in Singapore in 2Q12 – at the same pace as 1Q12 (90 units), most of them at The Luxurie. Looking forward, management is looking to develop a 367-unit development at Keppel Bay Plot 3 as well as Keppel Towers & GE Tower, but would likely take a wait-andsee stance towards the launch timings. Management also updates that MBFC Phase 2 (T3) is currently ~70% committed with new tenants taking on ~120k sq ft of space over the quarter.

2Q12 results in line
Keppel Land’s (KPLD) 2Q12 PATMI came in at S$97.7m, up 87.5% YoY mostly due to profits from Reflections at Keppel Bay and a stronger contribution from K-REIT Asia. This was mostly in line with our expectations and 1H12 PATMI now makes up 64% of our FY12 forecast. 2Q12 topline was S$130.3m, 25.1% higher YoY due to higher revenue recognition from The Luxurie and The Lakefront Residences.

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