City Development (CDL) shares recently dropped a lot – internal family disputes, corporate governance issues and a challenging real estate market have been a big drag on shares performance. Good to buy today? Let’s dive in. What’s driving CDL’s poor results? First things first, CDL’s latest financial year results have been plain bad. Revenues were down 33% to S$3.2 billion, net profits down 36% to S$201 million. The Singapore developer made less money from its property development in 2024 – owing to less projects being completed. Meanwhile, the company also faced higher financing costs and construction delays. Now, this is completely normal for a real estate developer. Property projects move in cycles. Some years, the company complete multiple projects and post strong earnings. Some years, it’s in a quiet phase — buying land and developing new projects. Pretty normal for a big developer. The thing is, when results look bad, investors panic and sell. When they look great, everyone piles in....