City Developments (CDL)

How to play URA's latest draft master plan
SINGAPORE (Apr 5): Kwek Leng Beng, executive chairman of City Developments, has his own views on what could make Sentosa an exciting place for a property investor. In 2014, CDL formed Profit Participation Security (PPS1) from the securitisation of Quayside Collection at $1.5 billion, with partners Blackstone Group and CIMB Bank. The mixed-use Quayside Collection on Sentosa Island comprises ...
It's all work, all play in Singapore if urban plan gets go ahead
(Apr 5): Living where you work and play may not seem like the ideal balance in terms of escaping the grind, but it’s a key plank of Singapore’s vision for its central business district. Like many cities’ financial centres, Singapore’s is bustling by day and close to deserted during a weekend. The government hopes to change that and laid out details of how it aims to go about it in an ...
Property sector kept at 'overweight' by CGS-CIMB as URA unveils 2019 draft master plan
SINGAPORE (Mar 28): CGS-CIMB Securities is maintaining its “overweight” on property developers given higher possibility of unlocking value from older commercial assets. This follows the release of URA's Draft Master Plan 2019 on Wednesday which envisions a more sustainable and liveable city state of the future. Key strategies in the draft include broadening developments across the ...
CityDev acquires $27.5 mil site in Leeds to develop 664-unit build-to-rent project
SINGAPORE (Mar 4): City Developments (CDL) is expanding into the rapidly-growing UK private rented sector (PRS) with the acquisition of a £15.4 million ($27.5 million) freehold site from Alpha Real Trust. Located at Monk Bridge in Leeds, the site is about a 10-minute walk to the Leeds Train Station and two kilometres to the Leeds City Centre which comprises the financial, civic, shopping and ...
Singapore has a better Bali on its doorstep, developer says
SINGAPORE (Feb 22): Singapore’s second-largest developer has a suggestion for the government: re-position the billionaire enclave of Sentosa as a tourism mecca like Bali. Property values at Sentosa Cove, a residential area nestled on a tiny island off the south coast, have been hit particularly hard, with home prices down about 30% from the highs seen in 2010. Even as the rest of the ...
Steady sales but thinner margins seen for CityDev; hospitality sector to stay challenging
SINGAPORE (Nov 9): City Developments reported a 10% y-o-y rise in 3Q18 earnings to $162 million. Revenue jumped 18% to $1.02 billion. The better performance was largely due to higher residential development profits as well as a $12 million pre-tax gain from the sale of a property in Jalan Besar. Gross profit margin held relatively steady at 47.8% in 3Q18 vs 49.5% in 3Q17. See also: ...
Right timing: STI approaches resistance after relief rebound
SINGAPORE (Nov 2): Here are two charts for our technical analysis: Straits Times Index (3,116) The Straits Times Index rebounded by 150 points within four sessions to end the week at 3,116; resistance appears at the declining 50-day movng average at 3,141. Short term stochastics has rebounded from an oversold low and the 21-day RSI has rebounded off the 30 level. These indicators have further ...
Property launches continue unabated despite new curbs
SINGAPORE (Oct 23): Despite the new property development policies, City Developments and Oxley debuted their latest properties, Whistler Grand and Kent Ridge Hill Residences respectively, last weekend. The two projects are targeted to launch officially on Nov 3. As at 1.20pm, shares in City Developments are trading at $8.15, while shares in Oxley are trading at 30 cents. In a DBS report on ...
3 developers to 'add' as Singapore's property price momentum slows: CGS-CIMB
SINGAPORE (Oct 16): CGS-CIMB Research is maintaining its “neutral” stance on Singapore’s property sector post the release of recent Urban Redevelopment Authority (URA) data, which reflected higher September monthly home sales of 944 transactions, up 51% m-o-m and 42% y-o-y. In a Monday report, analyst Lock Mun Yee notes that despite the positive momentum in home sales, the take-up rate ...
Right timing: Further upside for STI likely in the short term
SINGAPORE (Sept 28): Here are three charts for our technical analysis this week: STI daily (3,257) Further gains are likely. The market’s short-term uptrend ideally could run into resistance soon, as both quarterly momentum and the Straits Times Index move into resistance areas. However, since short-term indicators continue to rise, the STI may attempt to move above this resistance at ...