Total government land sale revenue falls 41% on year to S$7.3 billion in FY2008/09
The Singapore Land Authority or SLA says the total land sale revenue
for its 2008-2009 fiscal year stood at 7.3 billion dollars.
That's a 41 percent decrease from the 12.4 billion dollars it earned over the previous year.
Releasing its annual report today, SLA says the top seller was the Atrium@Orchard grade A office building.
The property garnered 840 million dollars for the government.
As the recession set in and the government withdrew land sales, SLA's
operating income also saw an 8 percent decline to 92.5 million dollars.
But the utilisation rate of state land is at a 4-year high of 79 percent, up from last year's 77.8 percent.
--938Live