CDL reports operational improvements but is wary of Covid-19 impact

Singapore

CITY Developments Ltd (CDL) said that there are signs of improvement across its core business segments, but the prolonged Covid-19 pandemic remains a concern as it continues to adversely impact operations.

CDL and its joint venture (JV) associates sold 319 units with a total sales value of S$513.6 million in the first quarter of 2021 ended March 31, a 72 per cent increase from a year ago, it said in an operational update on Wednesday. The sales this quarter were spread across various property categories, CDL added.