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CDL raises red flags on private housing market

Group posts 10.4% fall in Q3 earnings; revenue dips 1.2% to $822.7m

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While developers are starting to cut their prices in existing and new projects, willing to take in lower profit margins, land prices continue to escalate. - CDL executive chairman Kwek Leng Beng

CITY Developments Ltd (CDL), which posted a 10.4 per cent year-on-year drop in third-quarter net earnings to $120.6 million yesterday, has raised some red flags on the Singapore private residential property market. CDL pointed out that while developers are starting to cut their prices in

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