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CDL warns of fire sales in high-end market

While the residential property market is on a downturn, group can ride on 'shining stars' of offices and hotels

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The group's DNA is evolving as it enters cautiously into new frontiers, says Mr Kwek

Singapore

CITY Developments Ltd (CDL) executive chairman Kwek Leng Beng has warned that the current subdued state of the Singapore housing market particularly in the high-end segment, if it continues, could ignite fire sales.

Mr Kwek made this point in CDL's third quarter results

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