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Property development boosts CDL's Q3 net profit

But earnings from hotels, rental properties slide

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CEO Sherman Kwek said the group's recent purchase of over S$1b in office assets in London and Shanghai will speed up efforts to build a more stable base for recurring income.

Singapore

CITY Developments (CDL) said strong contribution from property development, especially its New Futura condo in Leonie Hill Road in Singapore, helped to boost the group's third quarter net profit by 10.4 per cent to S$161.8 million from the previous year.

For the three

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