City Developments's share price has rebounded 40.5% from year-to-date trough, as at 23 Jul 2025. Its recent new residential project launches in Singapore have achieved decent sell-through rates.
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Increased interest in CCR projects in Singapore.
Over the weekend of 19-20 Jul, there were two new project launches in the CCR, namely UpperHouse (301 units) located at Orchard Boulevard and The Robertson Opus (348 units) in Clarke Quay. The take-up rates surprised us on the upside, as both projects achieved sell-through rates of 54% and 41%, respectively. Average selling prices were also robust, coming in at S$3,350 per square foot (psf) for UpperHouse and S$3,360 psf for The Robertson Opus.
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City Developments also has a luxury project named Newport Residences located at Anson Road. While the launch timeline was delayed until further notice, we believe the take-up rates for the CCR projects highlighted earlier would provide some encouragement to City Developments’s management.
Operating metrics for Singapore’s retail and office sectors remain resilient.
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Above is an excerpt from a report by OCBC Investment Research. Clients of OCBC Securities may be the first to access the full PDF report @ https://www.iocbc.com/.
