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CDL attempts third PPS deal, this time with top-end condos

Portfolio worth about S$350 million to be made up of apartments in Cliveden at Grange, St Regis and One Shenton

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CDL's PPS of 48 apartments - at Cliveden at Grange (left), St Regis Residences Singapore and One Shenton - is significantly smaller than its previous two exercises. PPS is a fixed-term instrument that provides investors both yield and capital gains play.

Singapore

CITY Developments Ltd (CDL) is said to be attempting its third profit participation securities (PPS) structure, this time involving a portfolio of 48 apartments in three projects in the Core Central Region completed earlier. The potential deal is seen as the latest instalment of