CDL shares slip on news of lower property sales in Singapore in Q3

Shares of City Developments Limited (CDL) slipped on Nov 18 in a knee-jerk reaction to news of lower property sales.

- Angela Tan Senior Business Correspondent

CDL, as well as its joint venture associates, recorded lower Singapore sales of $313.2 million in the third quarter of 2025, down 48.7 per cent from $611.1 million in the year-ago period.

Its stock fell 1.5 per cent to close at $7.20 on Nov 18.

In an operational update on Nov 17, CDL said it sold 88 units in Singapore in the July to September period. They were mainly from existing projects as there were no new launches during the quarter.

In contrast, 321 units were sold in the third quarter of 2024. The sales were boosted by the launch of the 276-unit freehold Kassia in July 2024, a joint venture project located off Upper Changi Road North, which sold 144 units on its launch weekend.

Looking ahead, CDL said its core property development operations remain resilient.

In Singapore and China, it has built a strong pipeline of well-located projects via its ongoing land replenishment efforts.

For the first nine months of 2025, CDL and its joint venture associates sold 990 units in Singapore, totalling $2.5 billion in sales value.