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Property Portfolio Analysis

The Group's diversified property portfolio, comprising office buildings, residential properties, hotels and resorts, serviced apartments, industrial buildings, shophouses and retail outlets are owned through subsidiary and associated companies.

The Group's property portfolio amounted to about $6.3 billion. Details of the Group's property portfolio are given on pages 258 to 275. The following analysis as at 31 December 2010 is for the Group's effective interests only.

1. Analysis by Tenure
Freehold properties constituted 13.8% of the Group's properties in Singapore, with 999-year leases and 99-year leased properties making up 19.6% and 66.6% respectively.

2. Analysis by Development Stage
Of the Group's property portfolio in Singapore, 36.4% were made up of completed properties while 49.2% were under development.

Properties under development included Ocean Financial Centre, Marina Bay Financial Centre Phase 2, Marina Bay Suites, Reflections at Keppel Bay, The Lakefront Residences and Madison Residences.

The remaining 14.4% of the Group's properties comprised the newly acquired Keppel Towers and GE Tower pending redevelopment and landbank awaiting development.

3. Analysis by Sector
Of the Group's property portfolio in Singapore, 63.6% were office buildings, which included Ocean Financial Centre, Ocean Towers, Marina Bay Financial Centre, Equity Plaza, Prudential Tower, Bugis Junction Towers, One Raffles Quay and Keppel Bay Towers.

Residential properties made up 34.8% while the remaining portfolio comprised retail and industrial components in the proportions of 0.2% and 1.4% respectively.

4. Analysis by Estimated Gross Floor Area
The total gross floor area of the Group's property portfolio in Singapore was 511,000 sm. Office buildings and residential properties formed 51.9% and 43.6% respectively of the total gross floor area. The balance comprised 0.2% for retail and 4.3% for industrial buildings.

Of the Group's completed properties, 23.1% were located overseas. Taking into account projects under development, overseas properties constituted 26.1% of the Group's property portfolio.