Asian developers feel pinch of slowing Australian markets
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Singapore-listed developer Wee Hur has conceded its Brisbane apartment development has not been “well received” amid difficult conditions across its Singapore and Australian projects.
The residential developer yesterday released its six-monthly results, showing a 23 per cent drop in revenue for the half-year and comprehensive income of $S7 million ($6.5m), attributable to the “absence of contribution from property development” and a lower contribution from its construction arm.
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Source : Asian developers feel pinch of slowing Australian markets