For the past three months (ended last October 31, 2014), it was noted that the turnover of Popular Holding significantly dropped from $136.5 million to now $125.5 million. It was an 8% slide down the hill.
This decrease was thought to be caused by the low revenue that they earned from their retail and distribution and property divisions.
Popular Holding’s freehold condo that is situated at Balestier, named Eight Raja, only sold one unit for around $2.5million over the past quarter. It was a poor sale if compared to 18 Shelford, which sold 2 of its units at around $8.8 million in total over the same quarter.
18 Shelford is another project of Popular Holdings that is situated in the prime District 11. It is also a freehold project.
In an interview, the group said that they still have around 21 units in Eight Rajah that they need to sell. There were actually 5 units sold for this project since May 2013- the date where they obtained their Temporary Occupation Permit (TOP).
Popular Holding is known for its book publishing and retail businesses. The group journeyed into property market back in 2006 in order to expand their capital for publishing and retail expansion.