UOL Group Limited (SGX: U14) Stock Update: Price, Forecasts and Key Developments as of 5 December 2025

UOL share price today: near multi‑year highs after a big 2025 run

As of the morning of 5 December 2025, UOL Group Limited (SGX: U14) is trading around S$8.60–8.65 per share. Data from Beansprout shows the stock at S$8.65, up 0.35% intraday as at 09:21am SGT, while StockAnalysis records S$8.60 around midday. ^[1]

At these levels, UOL’s market capitalisation is about S$7.29 billion, an increase of roughly 63% over the past year, according to StockAnalysis’ market‑cap history. ^[2] The same source pegs UOL’s trailing P/E ratio at about 16.8x on revenue of roughly S$3.07 billion. ^[3]

Separately, The Business Times recently highlighted UOL as one of the best‑performing Straits Times Index (STI) stocks in Q3 2025, with a total return of about 28–29% for that quarter alone, and a dividend yield around 2.3% at the time of that analysis. ^[4]

In short: as of 5 December 2025, UOL is trading close to its recent highs after a strong year of outperformance versus the broader Singapore market.

What UOL Group actually does

UOL Group is one of Singapore’s largest listed property and hospitality groups. The company:

• Controls about S$23 billion of total assets,
• Owns and develops residential projects, office and retail properties, and
• Operates a sizable hotel and serviced suites portfolio via its Pan Pacific Hotels Group subsidiary. ^[5]

Through Pan Pacific Hotels Group, UOL manages three main hospitality brands – Pan Pacific, PARKROYAL COLLECTION and PARKROYAL – with properties across Asia, Oceania, Europe, North America and Africa. ^[6] Its listed subsidiary Singapore Land Group holds a large portfolio of prime commercial buildings and hotels in Singapore. ^[7]

That mix of development projects, investment properties and hotels is important when thinking about the stock: it gives UOL multiple earnings drivers (residential sales, recurring rental income, hospitality) that behave differently across the cycle.

1H 2025 results: earnings surge on strong development and investment income

UOL’s most recent full set of financials is for the half‑year ended 30 June 2025 (1H25). The numbers were robust: ^[8]

• Operating PATMI (profit attributable to shareholders before fair‑value and other gains/losses) rose 45% year‑on‑year to S$206.6 million.
• Net profit (PATMI) increased 58% to S$205.5 million, helped by gains from the disposal of PARKROYAL Yangon and stronger contributions from key businesses.
• Group revenue climbed 22% to S$1.55 billion.

Breaking down revenue growth:

• Property development revenue jumped 40% to S$731.7 million, mainly from progressive revenue recognition at Pinetree Hill, Watten House and Meyer Blue in Singapore.
• Property investments revenue rose 12% to S$303.6 million, aided by:
  • A newly acquired stake in 388 George Street in Sydney,
  • Better performance from Singapore Land Tower after asset‑enhancement works, and
  • New contributions from Odeon 333 in Singapore. ^[9]

Finance expenses actually fell 12% to S$90.7 million despite a larger asset base, thanks to a lower rate environment and UOL’s use of interest‑rate hedging. The group’s effective average interest rate on borrowings declined from 3.79% to 3.34% year‑on‑year. ^[10]

As at 30 June 2025: ^[11]

• Net gearing rose modestly from 0.23x to 0.25x, mainly due to funding for the Sydney acquisition and redevelopment of Clifford Centre.
• Net tangible asset (NTA) per share stood at S$13.55, slightly down from S$13.61 at end‑2024.

With the share price around S$8.60, UOL is trading at roughly 0.63x NTA (8.60 ÷ 13.55), implying a discount of about 37% to book value despite the strong earnings rebound. ^[12]

Operating momentum: high sell‑through, near‑full occupancy, rising RevPAR

Beyond headline profits, investors have been paying attention to UOL’s operating metrics across its three main segments. A detailed October 2025 sector note from The Smart Investor describes UOL as a “balanced all‑rounder” and highlights several key indicators. ^[13]

Residential

UOL’s residential portfolio has been selling briskly: ^[14]

• PARKTOWN Residence (mega integrated project in Tampines): ~92% of its 1,193 units sold.
• UPPERHOUSE at Orchard Boulevard (luxury project): about 64% of units sold by mid‑August 2025.
• Ongoing projects show similarly high sell‑through rates:
  • Pinetree Hill – ~88% sold,
  • Watten House – ~95% sold,
  • Meyer Blue – around 69% sold.

Management has also started preparing the pipeline for the next wave of launches, including Skye at Holland, a new District 10 project in Holland Village (more on this below). ^[15]

Investment properties

On the commercial side, Smart Investor flags very high occupancy across UOL’s Singapore portfolio: ^[16]

• Office occupancy at about 96.6% (up 3.2 percentage points year‑on‑year).
• Retail occupancy around 97.3%, down only slightly year‑on‑year but still effectively full.

The 1H25 results release echoes this, and management expects Singapore office and suburban retail to remain supported by limited new supply and a continued “flight‑to‑quality” in Grade A office space. ^[17]

Hospitality

The hospitality arm, Pan Pacific Hotels Group, continues to benefit from tourism and corporate travel recovery: ^[18]

• Average occupancy improved from 67.7% to 71% year‑on‑year.
• Average RevPAR (revenue per available room) increased 9.1% to about S$180.30, reflecting both price and occupancy gains.
• UOL has about 1,634 rooms in the development pipeline, supporting medium‑term growth in recurring hotel income.

Taken together, those metrics help explain why both earnings and sentiment have improved sharply through 2025.

2025 strategic moves: mega launches, capital recycling and global expansion

A big part of UOL’s 2025 story is what it has been doing with capital, not just the earnings it has reported.

1. PARKTOWN Residence – largest integrated development in Singapore

In February 2025, UOL, Singapore Land Group and CapitaLand Development launched PARKTOWN Residence, marketed as Singapore’s largest integrated residential and transport‑linked development. ^[19]

Key details: ^[20]

• 1,193 residential units on a roughly 5‑hectare site at Tampines Street 62.
• Directly integrated with:
  • A retail mall (~146,000 sq ft),
  • A new bus interchange,
  • A future Tampines North MRT station on the Cross Island Line,
  • A community club and hawker centre,
  • A green boulevard connected to Tampines Boulevard Park.
• One‑bedroom plus study units start from about S$1.07 million, with larger units scaled accordingly.
• Target Temporary Occupation Permit (TOP) by mid‑2030.

By August, management reported that over 90% of units had already been sold, locking in a substantial portion of future development profit. ^[21]

2. Skye at Holland – prime District 10 launch in Holland Village

In late September 2025, UOL and partners announced Skye at Holland, a 666‑unit high‑end project in Holland Village, District 10. ^[22]

Highlights: ^[23]

• First major private residential launch in the Holland Village area since 2019.
• Two 40‑storey towers on a 99‑year leasehold site, surrounded by Good Class Bungalow (GCB) areas with long unobstructed views.
• Guide prices start around S$1.51 million for a 2‑bedroom unit, S$2.40 million for 3‑bedroom, and S$3.34 million for 4‑bedroom with private lift.
• Within walking distance of Holland Village MRT, close to the Botanic Gardens, Dempsey Hill and several top schools.
• Expected TOP in 2029.

Management has explicitly linked the project to continued “healthy demand for attractively priced developments in desirable locations”, even in a more regulated housing environment. ^[24]

3. Overseas expansion: Australia and the UK

UOL has continued to diversify outside Singapore in 2025:

• Sydney CBD office – In January 2025, UOL and Singapore Land Group acquired a 50% stake in a prime Sydney property for about A$460 million, building on the earlier acquisition of 388 George Street that contributed to higher investment income in 1H25. ^[25]
• Varley Park student accommodation, UK – In August 2025, UOL announced the acquisition of Varley Park in the UK for £43.5 million, describing it as its first foray into the student accommodation sector – a move that could add a new recurring‑income asset class aligned with long‑term “living” themes. ^[26]

4. Capital recycling: Kinex Mall divestment

On the recycling side, UOL has not just been buying. A Knight Frank / Realty+ report on Asia‑Pacific real estate capital markets noted that Singapore logged US$3.8 billion of investment transactions in Q3 2025, including UOL’s US$292 million divestment of Kinex Mall to local investors. ^[27]

That sale frees up capital that can be recycled into higher‑growth projects like Skye at Holland, the Tampines integrated development, student housing and hotels, while crystallising gains on a mature retail asset.

5. Hospitality pipeline: first NoMad hotel in Asia

On 5 May 2025, UOL announced a partnership with Hilton to open the first NoMad hotel in Asia Pacific along Singapore’s Orchard Road. ^[28]

The project will: ^[29]

• Convert the former Faber House into a 19‑storey 173‑room luxury lifestyle hotel,
• Open in early 2027,
• Feature a dramatic biophilic design with a 15‑storey cascading waterfall and lush vertical landscaping,
• Include rooftop dining and an infinity pool overlooking Orchard Road.

The hotel will sit alongside Pan Pacific Orchard and UOL’s luxury residential project UPPERHOUSE at Orchard Boulevard, forming a deliberate “placemaking” cluster in the Orchard precinct. ^[30]

Balance sheet strength and rate‑cut tailwinds

Multiple sources converge on the same takeaway: UOL is running with moderate leverage and comfortable interest cover.

From the 1H25 results: ^[31]

• Net gearing: 0.25x
• Effective cost of debt: 3.34%
• Finance expenses: down 12% year‑on‑year

The Smart Investor piece goes further, calling out that UOL’s interest coverage ratio is around 7x and about 69% of its debt is fixed‑rate, limiting the immediate impact of interest‑rate volatility. ^[32]

As the same article argues, if global and local interest rates continue to edge lower into 2026, developers like UOL can benefit in three ways: ^[33]

1. Higher development margins from lower funding costs,
2. Improved housing affordability, supporting residential sales, and
3. Potential valuation uplift on investment properties as cap rates compress.

In that narrative, UOL sits between highly cyclical developers and ultra‑defensive asset‑light managers – a balanced play on both residential demand and recurring rental/hospitality income. ^[34]

UOL stock forecasts: what analysts are saying now

There is no single “correct” view of UOL’s fair value; different platforms aggregate different analyst sets and use different reference prices. But as of early December 2025, several data points are visible:

Consensus on SGX: slight downside from current price (Beansprout)

Beansprout aggregates SGX‑listed analyst calls and shows: ^[35]

• Consensus target price:S$8.20
• Current price used: S$8.65 (as at 5 Dec, 09:21am SGT)
• Implied downside: roughly ‑5.2%

Recent research calls in that set include: ^[36]

• CGSI Research – rating ADD, target S$8.20 (28 Feb 2025)
• DBS Research – rating BUY, target S$8.40 (23 Apr 2025)
• OCBC Investment – rating BUY, target S$8.62 (3 Mar 2025, up from S$8.11)

Taken at face value, the local broker community is mildly positive but sees the stock as close to fair value after its rally.

Global analyst set: modest upside and BUY consensus (ValueInvesting.io)

ValueInvesting.io, which compiles a broader set of 14 analysts, shows a somewhat higher 12‑month target: ^[37]

• Average target price:S$9.02
• Target range:S$6.16–12.60
• Implied upside: about 7.3% from a reference price of S$8.41
• Consensus rating:BUY
  • 0 strong sell, 1 sell, 2 hold, 9 buy, 2 strong buy.

Their aggregated forecasts call for: ^[38]

• Revenue of about S$2.82 billion this year, rising to S$2.93 billion next year,
• EPS growing from S$0.42 to S$0.44 this year and to S$0.50 next year – roughly 13% EPS growth in 2026.

Oninvest view: fair value with limited upside

Oninvest, which applies its own scoring system, currently lists UOL at: ^[39]

• Share price:S$8.61 (as of 4 Dec 2025),
• Issuer rating:5/7,
• Risk: described as “limited”,
• Valuation score:4/7 – “fairly valued”,
• Average target price: about S$8.90, implying roughly 3% upside and a practical HOLD stance.

US depositary receipt (UOLGY): bullish dollar‑based targets

For investors looking at UOL’s US OTC depositary receipt UOLGY, Fintel’s forecast card shows: ^[40]

• Average one‑year price target:US$27.45,
• Range:US$25.04–30.81,
• Based on projections out to November 2026, implying substantial percentage upside from current DR levels.

Those numbers need to be interpreted carefully, because DR pricing depends on the DR‑to‑SGX share ratio and FX rates, but they broadly echo the idea that many analysts still see upside over a multi‑year horizon, even if local near‑term targets cluster closer to current prices.

Qualitative takes: strong balance sheet, but price has run

Platforms such as Simply Wall St characterise UOL as having an excellent balance sheet, reasonable valuation and a track record of paying dividends, while also noting that the share price has re‑rated sharply and, on some metrics, appears ahead of near‑term earnings. ^[41]

That tension – between improved fundamentals and an already‑strong share‑price run – is central to how different analysts end up with either modest upside or mild downside in their target prices.

Valuation snapshot: premium earnings, discounted assets

Putting the pieces together as of 5 December 2025:

• P/E: About 16.8x trailing earnings – not cheap in absolute terms, but within the typical range for quality developers with recurring income streams. ^[42]
• Price‑to‑NTA: Roughly 0.63x based on share price of S$8.60 and NTA per share of S$13.55. ^[43]
• Dividend yield: Around 2–3% based on recent dividend payouts and Business Times estimates. ^[44]

In other words, the market is currently:

• Willing to pay a mid‑teens earnings multiple for UOL’s income stream,
• But still pricing the stock at a significant discount to its underlying book value, a common feature of Asian developers, especially in markets where cooling measures and policy risk loom large.

Key risks to watch

Despite the strong 2025 narrative, UOL is not without risk. Some of the main factors investors are tracking include:

1. Singapore property policy and demand
   • Additional Buyer’s Stamp Duty (ABSD), loan curbs or further cooling measures could affect high‑end and investment demand, especially for luxury launches like Skye at Holland and UPPERHOUSE.
2. Interest‑rate path
   • While the current story is “rate cuts are coming”, a renewed inflation spike or slower‑than‑expected easing could keep borrowing costs higher for longer, pressuring margins and valuations. ^[45]
3. Hospitality cyclicality
   • Global growth slowdowns, geopolitical shocks or new health scares can hit hotel occupancy and RevPAR, directly impacting UOL’s hospitality earnings. ^[46]
4. Execution on large projects
   • Mega developments like PARKTOWN Residence and international expansions in Sydney and the UK require tight project management; delays or cost overruns could erode returns. ^[47]
5. FX and overseas exposure
   • With assets in Australia, the UK and other regions, UOL is exposed to currency movements and local property cycles that may not move in sync with Singapore. ^[48]

Bottom line: where UOL Group stock stands on 5 December 2025

As of 5 December 2025, UOL Group sits at an interesting crossroads:

• Share price: Near multi‑year highs around S$8.60–8.65 after a stellar 2025 run and standout Q3 performance on the STI. ^[49]
• Fundamentals: Earnings are rebounding strongly, with 1H25 net profit up 58% and revenue up 22%, underpinned by robust residential sales, high commercial occupancy and recovering hotels. ^[50]
• Pipeline: The group has sold down much of its current Singapore residential pipeline while lining up new launches (PARKTOWN Residence, Skye at Holland) and growing its hospitality and “living” platforms via projects like NoMad Singapore and Varley Park student housing. ^[51]
• Balance sheet: Net gearing of about 0.25x, high interest cover and a largely fixed‑rate debt book position UOL to benefit from a lower‑rate world rather than merely survive it. ^[52]
• Valuation & research views:
  • Local broker consensus (via Beansprout) sees slight downside from current levels,
  • Broader analyst sets (ValueInvesting.io, Fintel, Oninvest) generally see modest upside and retain BUY or HOLD stances overall. ^[53]

For investors following SGX property counters, UOL today looks like a quality, diversified developer‑landlord‑hotel operator that the market now recognises – but still prices at a notable discount to its underlying assets.

References

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