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Article: Banyan Tree Residences Records Four-Fold Growth In First Year Of Operations

Article from:
US Fed News Service, Including US State News
Article date:
May 30, 2008
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Banyan Tree Hotels & Resorts issued the following news release:

Singapore-listed Banyan Tree Holdings Ltd ("Banyan Tree"), a leading developer, designer and operator of luxury resorts, hotels and spas, has announced the strong first-quarter 2008 showing of Banyan Tree Residences (http://www.banyantreeresidences.com/), the property sales and residences arm of the group. In the first quarter of 2008 alone, a total of 29 units totalling S$51.2million was sold, surpassing by over 450% sales of S$9.2million in the first quarter of 2007. Banyan Tree Residences posted a total S$90.1 million in cumulative unrecognised revenue (excluding unrecognised revenue from unbranded residences) at the end ...

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