SGX:C09Real Estate
Does Newport Launch And First Sponsor Losses Change The Bull Case For City Developments (SGX:C09)?
City Developments Ltd recently held a preview opening for Newport Residences, a 246-unit freehold project on Anson Road, ahead of sales bookings set for 31 January and a results update planned for late February.
At the same time, the group flagged profit guidance issues at associated company First Sponsor Group, where foreign exchange movements and property valuation pressures contributed to net losses, highlighting how linked investments can influence sentiment toward CDL’s broader...