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Developers' FY14 results belie home sales softness

Performances were helped by "locked in" sales and one-time gains

CapitaLand benefited from the S$579 million sale of Westgate Tower, while City Developments (CDL) posted its best-ever quarter supported by the completion of the sale of cashflows of its profit participation security platform for its Quayside Collection project in Sentosa Cove.


THE mixed crop of results produced by Singapore property developers in FY2014 belies the underlying softness of domestic home sales.

Although performances have largely met market expectations, analysts attributed this to two factors.

One was that developers were...

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