The 20-year contract secured by its unit Metro Parking Management Philippines Inc would also include the construction of an additional 208-bays of steel deck parking structure in MBP - a bustling business hub in the affluent suburb near Alabang Town Centre, one of Metro Manila
KUALA LUMPUR: UOA Development Bhd
's net profit in the third quarter ended Sept 30 slid 1.1% to RM92.16mil from the year-ago quarter despite revenue rising 15% to RM300.38mil.
According to the group, the softer profit was due to lower contribution from its Sentul Point Suite Apartments and Southbank residence and the sale of stocks including the Horizon Bangsar South tower previously.
The higher revenue, meanwhile, was due to the progressive recognition of the group's ongoing development projects.
UOA said the total new property sales for the quarter under review was about RM1.14bil while the total unbilled sales as at Sept 30 was about RM1.67bil.
"The property sales for the year were derived, mainly, from South Link Lifestyle Apartments, United Point Residence and Sentul Point Suite Apartments," it said.
Moving forward, it said it will continue its focus on development at targeted geographical locations and continue to assess opportunities for land acquisitions that meet the criteria.
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