City Developments Limited stock: $709 million land bid puts CDL share price in focus for Monday
A CDL-led consortium submitted the top bid of S$709.25 million for a Tanjong Rhu Road residential site, outpacing groups linked to Sunway MCL, Sim Lian, and GuocoLand. CDL shares closed down 0.6% at S$9.57 on Friday. The Urban Redevelopment Authority has yet to award the site. Investors await CDL’s results briefing on Feb 27.