UOA Development More Than Doubles 3Q Earnings on Strong Progress Billings

UOA Development Bhd delivered a robust performance in the third quarter of FY2025, with earnings more than doubling on the back of strong progress billings from its ongoing development pipeline while operating expenses remained stable.

Strong Quarterly Performance

For the quarter ended Sept 30, 2025, the developer posted a net profit of RM115.63 million, according to its filing with Bursa Malaysia. Revenue surged 54% year-on-year to RM217.3 million, driven by continued construction activity across several key projects, including a medical centre, two residential developments, and a new office tower.

UOA did not declare a dividend for the quarter, consistent with its practice of issuing payouts mid-year.

Sales Momentum and Unbilled Revenue

As at end-September, new property sales reached RM564.6 million, supported mainly by developments such as Bamboo Hills Residences, Duo Tower, Laurel Residence and Aster Hill. The group’s unbilled sales stood at RM794.9 million, providing earnings visibility for upcoming quarters.

This sales momentum is positive for the wider Kuala Lumpur commercial property market, especially as demand continues to grow for modern office space in areas like Bamboo Hills and Bangsar South—locations that also influence tenant demand trends in surrounding markets such as office space in Bukit Jalil, and the broader Klang Valley commercial corridor.

Strong Nine-Month Results

For the first nine months of FY2025, UOA Development recorded a net profit of RM281.29 million, marking a substantial 77% increase compared with the same period last year. Cumulative revenue rose 61% y-o-y to RM499.57 million, reflecting broad-based performance across its development portfolio.

UOA’s ongoing activity across Kuala Lumpur also indirectly supports demand for related real estate segments—including industrial land in Selangor, commercial property in KL, and industrial property in the Subang area, due to spillover effects from construction supply chains, logistics, and workforce distribution.

Share Price Activity

At the midday trading break on Wednesday, UOA Development’s share price was slightly lower at RM1.84, giving the group a market capitalisation of RM4.9 billion ahead of its results announcement.