City Developments - Phillip Securities 2025-05-22: Strong Residential Sales In Singapore

• The Orie, launched in January 2025, has seen strong demand with 91% of its 777 units sold to date. Other projects continue to sell well, with Lumina Grand, Tembusu Grand, and The Myst 98%, 93%, and 82% sold to date, respectively.
• No financial information was provided in this operational update.
• - Read this at SGinvestors.io -

The Positives

Property development sales surged in 1Q25.

• City Developments and its JV associates sold 795 units with a total sales value of S$1.9bn, up 85% in volume and 155% in value y-o-y (1Q24: 429 units, S$736.8mil in value). The spike was driven by the launch of The Orie in January 2025, which has sold 91% of its units to date.
• - Read this at SGinvestors.io -

Portfolio RevPAR rose 1.2% y-o-y to S$139.7 in 1Q25, supported by growth across most regions despite the high base in Singapore.

• Read more at SGinvestors.io.

Above is an excerpt from a report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full PDF report @ https://www.stocksbnb.com/.

Previous report by Phillip:
2025-03-17 City Developments - Road To Recovery.

Price targets by 2 other brokers at City Developments Target Prices.

Listing of research reports at City Developments Analyst Reports.

Relevant links:
City Developments Share Price History,
City Developments Announcements,
City Developments Dividend Payout Dates & Corporate Actions,
City Developments News