CapitaLand Q2 sales slide

THE impact of slower development sales hit home for CapitaLand this year, with its second quarter ended June 30 results registering a drop in revenue. Having substantially sold down residential units in its launched projects, it still has some 500 launched but unsold units in Singapore and some 2,000 such units in China.

Also in its pipeline are close to 392 more residential units in Singapore and over 7,500 units in China that are ready for launch this year.

But group chief executive Lim Ming Yan noted that the rebalancing of the group portfolio since one and a half years ago has yielded results - 75 per cent of total group assets now resides in investment properties and 25 per cent in residential properties.