City Developments Limited (CDL)

The manager of IREIT Global announced on Thursday that it has secured a five-year lease for some 3,450 sqm of office space with AREAS, S.A.U. at the Il∙luminia property in Barcelona, Spain.

The prolonged Covid-19 pandemic has affected businesses and communities globally, according to City Developments, in its operational update released on Tuesday.

City Developments (CDL) announced Wednesday it has just acquired 51.01% joint controlling interest in China’s Sincere Property Group for an initial investment of RMB 4.39 billion ($0.88 billion).

SINGAPORE (Feb 26): City Developments Limited (CDL) this morning announced that its 4Q19 earnings have increased by 12.5% to $87.7 million from $77.9 million a year ago. This brings 4Q19 earnings per share to 9.0 cents, 13.9% higher than 7.9 cents in 4Q18

SINGAPORE (Dec 9): IREIT Global announced Dec 7 that it is acquiring a portfolio of four office properties in Spain for a total acquisition cost of €142.3 million ($213.9 million) in a 40:60 joint venture with Tikehau Capital.

This was partially mitigated by higher revenue contribution from the hotel operations, investment properties and others segments, which saw increases of 4.2%, 28.3% and 6.5% respectively. 

SINGAPORE (May 15): City Developments (CDL) has announced earnings of $199.6 million for the 1Q ended March, rising 133.8% from restated 1Q18 earnings of $85.3 million on strong profit margins and the realisation of a pre-tax divestment gain.

SINGAPORE (Mar 28): CGS-CIMB Securities is maintaining its “overweight” on property developers given higher possibility of unlocking value from older commercial assets.

SINGAPORE (Feb 21): City Developments recorded earnings of $77.9 million for 4Q18, down 54.7% from $171.9 million a year ago on lower revenue and higher expenses.