UOL Group FY2025: KINEX Sold, Two New Acquisitions, Portfolio Refreshed Across 8 Markets

UOL Group's FY2025 Annual Report (year ended 31 Dec 2025) reveals an active year of portfolio recycling and strategic growth across its S$10B+ investment property, hospitality and residential businesses.

KINEX Divestment (Oct 2025): UOL sold its freehold Katong retail mall for S$375M — a 1.4% premium to book — recycling capital from a sub-scale retail asset. The mall had been valued at S$370M in FY2024 at 98% occupancy.

New Acquisitions: Two new assets entered the portfolio in 2025. 388 George Street, Sydney — a fully occupied 30-storey commercial tower (41,098 sqm NLA) acquired at S$391.6M (60% JV interest) — significantly deepens UOL's Australian office exposure. Varley Park, Brighton (UK) — 771-bed purpose-built student accommodation, 100% leased to University of Brighton, acquired at S$83.5M.

Pending Disposal: In January 2026 (post-balance sheet), UOL signed an Asset Purchase Agreement to sell Pan Pacific Tianjin. Completion is expected by April 2026, marking a further retreat from China hospitality.

West Mall completed its asset enhancement (cost not publicly disclosed) in February 2025, adding the 'Eat@W' basement wing (~2,043 sqm of new F&B/retail), a direct MRT link to Bukit Batok station and a sheltered plaza. Singapore Land Tower completed its AEI in Q3 2025, introducing 'The Exchange' — a tenant amenity hub on levels 4-5 — alongside a refreshed lobby and new rooftop observation deck. Both assets have achieved Green Mark Platinum Super Low Energy certification post-AEI.

PPHG added three new managed/owned properties in 2025: The Hotel Higashiyama Kyoto Tokyu (143 rooms, Jan 2025 — Pan Pacific brand debut in Kyoto), PARKROYAL Serviced Suites Hanoi (122 rooms, Sep 2025) and Pan Pacific Dalian (216 rooms, Oct 2025). The pipeline for 2026-2027 includes PARKROYAL Jakarta, Pan Pacific Phnom Penh and Siam Pan Pacific Bangkok, extending PPHG's reach to 16 countries.

All Singapore investment office assets maintained high occupancies: Novena Square and One Upper Pickering 100%, United Square 99%, SGX Centre 2 99%, Singapore Land Tower 97%, The Gateway 97%, Odeon 98%. Clifford at Raffles Place (35-storey Grade A, ~37,626 sqm NLA) is under redevelopment for completion in 2028. No new CBD supply until then.

AMO Residence received TOP in October 2025 (372 units, 100% sold). PARKTOWN Residence (1,193 units, 40% JV with CapitaLand) was 94% sold as at Dec 2025. Skye at Holland (666 units) launched October 2025, sold 99% on launch day. Post-period, UOL secured two new landbank sites: Dorset Road (428 units, 80:20 JV with Kheng Leong) and Hougang Central (mixed-use 800+ units, 40:10:50 JV with Kheng Leong / CapitaLand, won at S$1.50B).

UOL's FY2025 story is disciplined capital recycling — exiting non-core assets (KINEX, Tianjin hotel, Myanmar and Vietnam hotels) while deploying into diversified new verticals (PBSA, Sydney office) and completing AEIs that elevate Green Mark ratings. The Singapore investment portfolio remains a high-quality, near-fully-occupied engine, while residential pre-sales momentum is strong heading into 2026.