The company notes that it posted record revenue of $4.9 billion in FY2023 and has a diverse global portfolio of $33 billion in assets comprising residences, offices, hotels, serviced apartments, student accommodation, retail malls and integrated developments.
City Developments Limited (CDL) (SGX:C09
) has initiated a share buyback programme for its ordinary shares via open market purchases on March 8.
In a news release, CDL says its shares are currently trading significantly below their intrinsic value despite the company’s “strong fundamentals”.
