United Industrial Corporation Limited summary financial report 2005 -
2005 REVIEW Singapore’s economy enjoyed robust growth of 6.4% in 2005 despite rising oil prices. Against the backdrop of an improved economic environment and business sentiment, the Singapore property market rebounded. Demand for office space rose in the second half of the year, spurred on by the growth in financial services and increased recruitment by the services sector. In the private residential property market, prices rose by an estimated 3.8% year-on-year, the highest gain registered over the last five years. The recovery was mainly led by renewed foreign buying interest.