City Developments Limited (SGX: C09)
City Developments Limited, or CDL, released an encouraging business update for the third quarter of 2024 (3Q 2024). The blue-chip property group and its joint venture (JV) associates sold 321 units with a total sales value of S$611.1 million for its Singapore property development division. The sales volume and value were much higher than the prior year’s 183 units worth S$325 million. The higher sales were driven mainly by the launch of the 276-unit freehold property Kassia of which 179 units (65%) have been sold. For the first nine months of this year, CDL’s total sales amounted to 905 units with a total value of S$1.8 billion, higher than the previous year’s 691 units worth S$1.4 billion. The property giant’s other launches have also sold well. To date, Tembusu Grand has sold 581 units or 91% of the development while The Myst has sold 297 out of 483 units (73%)....Welcome to this week’s edition of top stock market highlights.
