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Timely for CityDev to launch a UK Reit?
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Published Tue, May 25, 2021 · 09:50 PM
PROPERTY heavyweight C09(CDL) is having a torrid time. It wrote down S$1.78 billion of its investment in Sincere Property Group, which contributed to a net loss of S$1.92 billion for the full year ended Dec 31, 2020.
The group saw improvement across its core business segments in Q1 2021. But its large hotel business struggled, with revenue per available room globally down 52 per cent year on year.
Recently reported developments about CDL's planned listing of a real estate investment trust (Reit) may, therefore, be welcomed by investors.
