CDL's next big monetisation moment: industrial properties
The property and hotel group may be in the advanced stages of hammering out a S$300-350m deal
SOMETHING'S brewing at City Developments Ltd (CDL), and it may not be what some had been expecting since the developer's S$1.5 billion monetisation of its Quayside Collection assets in December.
While market observers have tipped the South Beach mixed development project as the next big monetisation target for CDL, what's more likely to emerge is the group's exit from the industrial market.
Here's why. Industrial properties are not core to the property and hotel group; CDL has not developed an industrial project here in a long time and Singapore's industrial property landscape has also changed a lot in the past decade or so. Rentals from the group's industrial properties may also be muted in light of the massive oversupply of industrial space.
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