City Developments Limited (CDL)

Broker's Calls

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.

Results

CityDev ends FY18 with record revenue despite 4Q decline; recommends special 6 cents dividend

SINGAPORE (Feb 21): City Developments recorded earnings of $77.9 million for 4Q18, down 54.7% from $171.9 million a year ago on lower revenue and higher expenses.

Broker's Calls

City Developments kept at 'hold' despite trading at attractive valuations

SINGAPORE (Dec 11): DBS Group Research is reiterating its “hold” call on City Developments (CityDev) with a lower target price of $9.50.

Property

CityDev buys Aldgate House in London for $328 mil, expects immediate accretion

SINGAPORE (Sept 14): Property developer City Developments Limited (CDL) has acquired a prime freehold Grade A commercial building, Aldgate House, in London for £183 million ($328 million).

CityDev makes share buybacks at $9.485

SINGAPORE (Aug 16): Property giant City Developments Limited (CDL) has bought shares from the open market for the first time.

Broker's Calls

Analysts positive on City Developments' ride on residential segment recovery

SINGAPORE (May 14): City Developments Limited (CDL) on May 11 reported 1Q18 earnings ended March dropped 16.3% to $80.0 million from $95.6 million in 1Q17.

Results

City Developments posts 16.3% decline in 1Q earnings to $80 mil

SINGAPORE (May 11): City Developments Limited (CDL) announced that its 1Q18 earnings have dropped by 16.3% to $80.0 million, compared to $95.6 million in 1Q17.

Broker's Calls

A fruitful year of successful landbanking for City Developments

SINGAPORE (Mar 5): Phillip Capital is reiterating its “accumulate” recommendation on City Developments Limited (CDL) with a target price of $13.40.

Broker's Calls

Higher stamp duty unlikely to douse positive property sentiment

SINGAPORE (Feb 20): Global investment bank Jefferies says the increase in buyer’s stamp duty for residential properties in Singapore announced at Budget 2018 on Monday could put a slight dent in de

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