CDL's PPS of 48 apartments - at Cliveden at Grange (left), St Regis Residences Singapore and One Shenton - is significantly smaller than its previous two exercises. PPS is a fixed-term instrument that provides investors both yield and capital gains play.
PHOTO: ARTHUR LEE
CITY Developments Ltd (CDL) is said to be attempting its third profit participation securities (PPS) structure, this time involving a portfolio of 48 apartments in three projects in the Core Central Region completed earlier. The potential deal is seen as the latest instalment of...