- City Developments (SGX:C09)'s FY25 PATMI of S$630mil (+213% y-o-y) exceeded our expectations, coming in at 88% above our FY25e estimate. Growth was driven by strong Singapore residential sales and substantial capital recycling gains, with ~S$2bn in divestments in FY25, including the sale of its 50.1% stake in South Beach.
- - Read this at SGinvestors.io -
The Positives
Record residential sales in FY25, with strong momentum expected to continue.
- - Read this at SGinvestors.io -
- Including the recently secured Tanjong Rhu Road site, the Group now has a strong development pipeline of 1,820 units, with the Lakeside Drive site planned for launch in 3Q26.
More divestments in the pipeline.
- 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/.
Darren Chan Phillip Securities Research | https://www.poems.com.sg/ 2026-03-05
Read also Phillip's most recent report:
2026-05-25 City Developments - Strong Start To The Year.
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
