OUE Limited expects net loss for FY 2024 amidst slowdown in China property market

This comes after a net profit of $81.1m in 2023.

OUE Limited is expecting to record a loss for FY2024, compared to a profit attributable to shareholders of $81.1m recorded in the year ended 31 December 2023.

The group attributed the loss to its property investment business, Gemdale Properties and Investment Corporation Limited, which it owns 25.9%, which was impacted by the slowdown of the property market in China.

OUE also attributed the loss to the overall net fair value losses on the group's investment properties attributable to shareholders of approximately $79m compared to an overall net fair value loss of $24m recorded for FY 2023.

In a separate filing, Gemdale Properties & Investment said it is expecting around RMB4.2b ($780m) to RMB 4.8b ($890m) loss attributable to the owners of the company in 2024, as compared to a profit of approximately RMB343m ($63.31m) for the year ended 31 December 2023.

OUE said it will release its unaudited financial results for 2024 by 28 February.

Follow the link for more news on

Financial Statements

Also Read

Singapore logs 95% share in SEA tech funding in Q1 2025

Stoneweg European REIT starts unit buyback programme

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit