City Developments (CDL) on Friday announced a 17 per cent year-on-year increase in its second quarter net profit to S$220.9 million. The company also registered a 0.2 per cent drop in its revenue to S$979.4 million. The group said that property development continues to be a major contributor to the group's profits, which include hotel operations and rental properties. Hotel operations benefited from the...
City Developments Ltd (CDL)
City Developments Limited China, a wholly-owned subsidiary of City Developments Limited has successfully acquired a 4.5-hectare site in Suzhou, China with a permissible gross floor area (GFA) of approximately 3.2 million square feet. CDL China will construct 750 high-end residential apartments, an office tower, a retail mall and a luxury hotel on the site located in the heart of Suzhou Industrial Park...
Property group City Developments (CDL) said its net profit surged 78 percent to S$282.34 million for the first quarter ended March 31. The property developer attributed its improved financial performance to strong profit contribution from the rental properties segment, as well as gains from the sale of investments. The investments that were sold are The Corporate Office and a strata unit in GB...
City Developments Limited (CDL) is poised to increase its stake in the consortium developing the South Beach project, after it exercised its right of first refusal to acquire one-third stake of Dubai World in the consortium and met conditions for the transaction, said sources. This means that CDL's stake will increase to two-thirds, from the previous one-third. In 2007, Dubai World, CDL and Elad Group...
Mainboard-listed property firm City Developments (CDL) said its fourth quarter net profit rose 41.1 per cent on-year to S$249.2 million. This is despite revenue for the period falling 25.1 per cent to S$690.9 million. CDL said the increase was due to higher profit contribution from the rental properties segment due to gain recognised primarily from the sale of the Group's remaining strata-units in...
Faber-Rhine Properties, a unit of property giant City Developments (CDL), has acquired the 50 per cent stake owned by its venture partner AIG Marina Investment in Glengary for about S$9 million. Glengary is the developer of "The Sail @ Marina Bay", which was successfully launched in 2004. CDL said that the consideration was arrived at on a willing-buyer willing-seller basis, and it was settled in cash...
Property firm City Developments (CDL) says it is looking at up to seven property projects in China. And its wholly-owned Chinese subsidiary CDL China believes that these projects have a strong chance of coming to fruition. Analysts say that China's recent property cooling measures may actually lower the barrier for foreign developers to enter the market. Many are confident that China's property market...
The Chinese division of Singapore-listed City Developments Limited (CDL) has acquired its first development site in Chongqing, China, for 232 million yuan (about S$45 million). CDL China, which was formed in August this year, was awarded the residential site at a government land auction last Wednesday. CDL said the plot has a site area of more than 27,000 square metres, and is located on a historical...
City Developments (CDL) said its third-quarter net profit edged up 1 per cent from a year earlier to S$195 million. The property company said its revenue fell 21 per cent to S$746 million, compared with S$941 million a year ago. CDL said its hotel operations benefited from a recovery in the hospitality market across all regions. The rental properties segment also performed well, boosted by gains...
Property firm City Developments says its second quarter net profit came in at S$164.6 million, up 17.6 per cent on-year. The firm saw higher contributions from its residential and hotels divisions. Revenue increased 19.6 per cent on-year in the second quarter to S$941.6 million. CDL says its property development segment remains the main contributor to profit, accounting for more than 50 per cent of its...