Ho Bee Land Limited posted a 5% year-on-year rise in net profit to S$52.9 million for the half year ended Jun 30, 2026, buoyed by stronger development settlements in Australia that lifted group revenue by 30% to S$230.5 million.

Earnings per share edged up to 7.70 Singapore cents from 7.50 cents a year earlier. The company did not declare any interim dividend. Net gearing stayed broadly unchanged at 0.61 times.

Development property sales almost doubled to S$111.2 million, compared with S$60.5 million in 1H2025, reflecting higher completions and settlements in the Australian portfolio. Rental income, which accounts for roughly half of total turnover, improved marginally to S$119.2 million from S$117.2 million, underscoring resilient occupancy levels in the Singapore investment properties.

The earnings expansion was tempered by higher tax charges, unrealised foreign-exchange losses and a smaller uplift from fair-value gains on investment properties.

During the period, the group raised S$150 million via a five-year Green Bond, underscoring its push to integrate environmental, social and governance criteria into funding activities. It also advanced its London value-creation strategy, commencing asset enhancement works at 67 Lombard Street and preparing for the redevelopment of 1 St Martin’s Le Grand to capture demand for Grade A office space.

Chief executive officer Nicholas Chua said the half-year performance was achieved “despite ongoing geopolitical and macroeconomic uncertainties”. He noted that Australian developments were the main growth engine, while the Singapore office portfolio maintained high occupancy. Chua added that management is evaluating opportunities in new geographies and asset classes, pointing to recent investments in a Dutch convenience-retail portfolio and a Japanese hospitality fund. The group will “remain disciplined in capital allocation” and focus on delivering sustainable long-term shareholder value, he said.