City Developments - Phillip Securities Research 2026-05-25: Strong Start To The Year

• No financial information was provided in City Developments' 1Q26 operational update. The ultra-luxury freehold Newport Residences, launched in January 2026, is 78% sold to date (57% sold on launch weekend), while other projects, including The Orie, The Myst, Zyon Grand, and Norwood Grand, continue to see strong sales momentum.

• - Read this at SGinvestors.io -

The Positives

Strong take-up across launched projects.

• In 1Q26, City Developments and its JV associates sold 242 units worth S$609.6mil (1Q25: 795 units, S$1.9bn). Sales were mainly driven by Newport Residences, which is now 78% sold. The y-o-y decline was largely due to the high base in 1Q25, which benefited from the launch of The Orie, a 777-unit development that achieved an 86% take-up over its launch weekend. Other projects, including The Myst, Zyon Grand and Norwood Grand, are also more than 88% sold.

• - Read this at SGinvestors.io -
• the removal of the Deferred Payment Scheme (DPS); and
• the increase of the first-timer quota to 90% and extension of the first-timer priority period for new EC units to 2 years.

Resilient hotel operations despite the Middle East conflict.

• Read more at SGinvestors.io.

Paul Chew Phillip Securities Research | https://www.poems.com.sg/ 2026-05-25

---

---

---