Singapore, Feb 2, 2026, 15:26 SGT — Regular session
Shares of City Developments Limited (SGX:C09) (CDL) were up 0.75% at S$9.35 by 3:18 p.m. local time on Monday. The developer said it sold 140 of 246 units at Newport Residences as of 5 p.m. on Sunday, at an average S$3,370 psf (per square foot), excluding the super penthouse.
The quick take-up matters because prime, city-centre launches have become a live test of demand in the high-end market. For developers, those first-weekend numbers quickly spill into expectations on pricing, cash flow and how much discounting might be needed later.
The timing is tight, too. Singapore Exchange Securities Trading Limited filings show the group will publish its unaudited FY2025 results before the market opens on Feb 27, with a briefing for analysts and media at 10 a.m. the same day.
The project, on Anson Road, is freehold — meaning buyers own the land indefinitely — and sits inside a mixed-use tower with offices and serviced apartments. Group CEO Sherman Kwek said the company was “encouraged by the positive response” and pointed to the site’s links to the Greater Southern Waterfront precinct. The Edge Singapore
Property agents used nearby launches as a yardstick. Kelvin Fong at PropNex called it the “best-performing District 2 new launch in recent memory”, and contrasted it with One Bernam’s 23% take-up at its May 2021 launch and Sky Everton’s roughly 40% during its June 2019 launch weekend; both projects are now fully sold, he said. The Business Times
Justin Quek, deputy group CEO at OrangeTee & ETC Group, said the pricing was “likely to be viewed by investors and home buyers as attractive”, pointing to the scarcity of freehold homes in the city centre. The Straits Times
The stock had slipped 0.6% on Friday to close at S$9.28 ahead of the weekend launch. On Monday it traded between S$9.25 and S$9.51, with about 3.1 million shares changing hands, according to market data.
But fast first-weekend sales do not guarantee smooth earnings. Developers usually recognise revenue only as projects are completed, and demand can cool quickly if financing costs rise or policy settings shift.
For now, traders will likely keep the spotlight on Feb 27 for the full-year report and any detail on the 2026 launch pipeline and asset sales. The company is scheduled to report that day, market calendars show.
