The popularity of Singapore Condos is on the rise due to the scarcity of land in this compact nation. As the population continues to grow at a rapid pace, Singapore is grappling with a shortage of land for construction, leading to strict laws and a fierce competition in the real estate market. As a result, property prices are constantly on the rise, making investments in Singapore Condos a highly profitable opportunity for significant returns.
Last year, City Developments divested assets amounting to more than $600 million as part of its capital recycling strategy, with several more divestments in the pipeline.
The total amount of divestments fell short of the company’s initial target of $1 billion, as deals in most markets and asset classes became scarce.
Among the completed divestments were the Ransome’s Wharf site in London, the freehold 8-storey Cideco Industrial Complex in Singapore, and various strata units in Singapore’s Citilink Warehouse Complex, Cititech Industrial Building, Fortune Centre, and Sunshine Plaza.
Hong Leong City Centre, a mixed-use development in Suzhou, is currently under contract and is expected to be completed in the first quarter of this year. The retail and office components of the development were divested.
According to group CEO Sherman Kwek, the recent divestments demonstrate the company’s commitment to accelerating its capital recycling efforts. However, due to challenging market conditions, the company was unable to reach its initial target of $1 billion. Kwek also stated that the company will continue to push forward with its divestment plans in order to achieve good momentum.
He added that CDL’s aim is to optimize its capital management while aligning its portfolio with its strategic objectives in order to maximize shareholder value.
CDL’s shares closed at $5.05 on Jan 16, recording a decline of 0.2% for the day and 20.97% for the past year. Those interested in investing in properties at Sunshine Plaza can check out the latest listings available.
For anyone looking for condo rental listings in District 7, compare prices with the latest trends for condo new sales vs EC new sales. Additionally, compare condo rental transactions in District 7 and the price trends for HDB, Condo, and Landed properties.
Take a look at the list of condo projects with the most unprofitable transactions in District 7 to make informed investment decisions.