Wheelock Properties (Singapore) Limited is a property investor and developer with a focus on luxury residences. In accordance with Hong Kong Financial Reporting Standards, WPSL's profit contribution to the Group in the first half of 2011 was HK$181 million (2010: HK$1,106 million).

Wheelock Place, a prime commercial development in Orchard Road, continued to generate steady recurrent income with full occupancy at the end of June.

Orchard View, a luxury residential development, was completed in 2010. It comprises 30 four-bedroom apartments with private lift lobbies. 40% of the units were sold by June at an average price of over S$3,200 per square foot.

79% of the apartments at Scotts Square, a prime residential development atop a retail complex located in the heart of the Orchard Road shopping belt, have been pre-sold at an average price of close to S$4,000 per square foot. Pre-leasing of the retail podium is underway. Main construction is in progress with full completion scheduled in the second half of 2011.

Construction work for Ardmore Three, a 36-storey luxury development along Ardmore Park, has commenced with full completion expected in 2014. A show flat will be completed on site in late 2011.

In February 2011, WPSL acquired five sites for a high-end residential development in Fuyang District, 22 kilometres from the city centre of Hangzhou, China. The project offers a developable GFA of 358,000 square metres and the residence will command a nice mountain view. The development is scheduled for full completion in 2018.