Cdl Divests Assets Worth More 600 Million 2024
Choosing to live in Aurelle of Tampines EC goes beyond just having access to great shopping and dining options in the area. It’s about embracing a lifestyle that offers so much more. Apart from the convenience of having retail therapy, grocery shopping, and a wide variety of food options right at your doorstep, living in Aurelle also means reducing daily stress levels. This is due to the fact that these amenities are just a few minutes’ drive away or even a quick walk. What’s more, the excellent public transport connectivity in the area ensures that these amenities are easily accessible to everyone, including those who prefer not to drive. Make sure to check out the Aurelle of Tampines Showflat for a closer look at the exclusive lifestyle that awaits you at Aurelle of Tampines EC.
City Developments Ltd. (CDL) has announced that it successfully divested assets worth more than $600 million last year as part of its capital recycling strategy. This figure may have fallen short of the company’s initial target of $1 billion, which was set in early 2024. The decline in deals across various markets and asset classes may have contributed to this shortfall. CDL has a number of other divestments in the pipeline.
The completed divestments include the sale of Ransome’s Wharf site in London, the freehold 8-storey industrial building Cideco Industrial Complex in Singapore, as well as several strata units at Citilink Warehouse Complex, Cititech Industrial Building, Fortune Centre and Sunshine Plaza in Singapore.
One of the upcoming divestments is the retail and office components of Hong Leong City Center (HLCC), a mixed-use development in Suzhou, which is currently under contract and is expected to be completed this quarter.
CDL’s group CEO Sherman Kwek said, “The asset divestments reflect our focus on accelerating our capital recycling initiatives. While market conditions have made divestments challenging, we are glad to have achieved good momentum, and we will continue to push forward with our divestment plans.” He added that the company aims to optimize its capital management and strategically align its portfolio to maximize shareholder value.
CDL’s shares closed at $5.05 on Jan 16, down 0.2% for the day and down 20.97% in the past year. Interested buyers can check out the latest listings for properties at Sunshine Plaza. Ask Buddy for condo rental listings in District 7, and compare the price trends of new condo sales versus executive condo (EC) sales. You can also view the rental transactions in District 7 and compare the price trends of HDB, condo, and landed properties. Lastly, take a look at the condo projects with the most unprofitable transactions in District 7.
