CapitaLand Investment Limited (SGX: 9CI), or CLI, has just submitted its very first earnings report. CLI was spun out of the CapitaLand Group last year in an exercise that saw the real estate giant’s development arm being privatised. The group is taking on a more asset-light stance compared to its predecessor. We previously compared the now delisted CapitaLand Group with its peer Frasers Property Limited (SGX: TQ5) almost a year ago. Investors may now be curious as to how CLI compares with another property behemoth — City Developments Limited (SGX: C09), or CDL. We decided to pit the two real estate conglomerates against each other to determine which makes the better investment choice. Financials We start by looking at both companies’ latest fiscal 2021 (FY2021) income statements. CLI reported a 15.6% year on year rise in revenue to S$2.3 billion while CDL saw a 24.5% year on year jump in revenue to S$2.6 billion....