CityDev gears up for series of launches with eye to replenishing land bank
Property group's Q4 net profit falls 54.7% to S$77.9m on impairment losses of S$94.1m - mostly from its US hotels
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AS City Developments Limited (CDL) gears up for its slew of residential project launches, it's also taken a liking to some government land sales (GLS) sites later this year. The property group also won't rule out occasional en bloc deals.
Group chief executive officer Sherman Kwek said at its results briefing on Thursday: "We will continue to monitor the market... our land bank won't last for that long. In the next three to four years, we will have a shortage of land if we don't keep replenishing."
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