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PPS3 to be priced 'much higher than S$2,300 psf'

CDL responds to BT report which cited S$2,300 psf as the approximate figure for the transaction on a portfolio basis

Kalpana Rashiwala

Published Fri, May 27, 2016 · 09:50 PM

Singapore

CITY Developments Ltd (CDL) has said that the anticipated pricing for a potential residential profit participation securities (PPS) transaction will be "much higher" than the S$2,300 per square foot (psf) cited in a report in The Business Times on Friday, "given the intrinsic value of our assets".

Responding to the report, the property developer added that it would make further announcements if and when a deal on this subject materialises.

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