CDL undertakes review to relook strategy, optimise portfolio and capital recycling

[SINGAPORE] City Developments Ltd (CDL) is taking a hard look at its global portfolio and capital allocation priorities under a sweeping strategic review, with plans to step up capital recycling and monetise assets.

“To maximise shareholder returns, we are actively reviewing our growth strategy, portfolio structures and capital allocation priorities,” said group chief executive Sherman Kwek, at CDL’s earnings briefing on Friday (Feb 27). “We have taken decisive steps to unlock value from mature and non-core assets while selectively redeploying capital to drive growth.”

The property giant engaged a global advisory firm around September last year to conduct a review of its strategy and operations. CDL expects to announce the outcome of the review by June this year.