- City Developments's share price has rebounded from the bottom in April, aided by a strong momentum in Singapore’s residential property market. We see legs in the current rally, driven by positive outlook for Singapore real estate sector, its renewed focus on asset divestments, and government policy measures supporting deep-value plays (thereby mitigating earlier corporate governance lapses).
- - Read this at SGinvestors.io -
Divestments remain a key priority.
- Divestments remain a key priority with City Developments completing the divestment of the South Beach integrated development (50.1% stake) for a net gain of S$465m in September, and Piccadilly Galleria for S$65.5m in November. It has also put up Quayside Isle @ Sentosa for sale for S$111m, and is currently in negotiations with potential buyers.
- - Read this at SGinvestors.io -
- City Developments is also a key beneficiary of falling interest rates, as only 43% of its debt is on fixed interest rates (as at 1H25), and ~73% of its debt is due for refinancing by 2027.
Building on Singapore’s residential market strength.
- Read more at SGinvestors.io.
