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CDL sells more homes but achieves lower sales value in Q1

Lower quantum compared to prior year due to less pricey units sold as majority are in mass to mid-market segments

Published Tue, May 12, 2020 · 09:50 PM

Singapore

CITY Developments Limited (CDL) and its joint-venture associates sold 185 homes worth S$278.1 million for the first three months ended March 31, compared to 173 units valued at S$516.3 million in the same period last year.

The lower quantum in sales value was due to residential units that were less pricey, as a majority of the units sold were in mass to mid-market projects such as Piermont Grand, Whistler Grand and The Tapestry. In contrast, the units sold in the same period last year were mainly in ultra-luxury projects such as Boulevard 88.