Ho Bee Land issues profit warning, citing need to book fair value loss on London investments

The most recent significant property bought by Ho Bee in London was the 675-feet tall The Scalpel, in Feb 2022.

Ho Bee paid $1.3 billion for the freehold property at the junction of Lime Street and Leadenhall Street

It owns other properties such as Ropemaker Place, 1 St Martin's Le Grand and 67 Lombard Place.

According to CBRE, UK commercial property capital values decreased by 13.3% as a whole in 2022.

See also: Keppel Pacific Oak US REIT’s 1QFY2025 distributable income falls by 19.3% y-o-y to US$9.6 mil

Ho Bee expects to report on or before Aug 10.

Ho Bee Land shares ended July 14 at $2.01, down 0.99% for the day and down 16.25% year to date.