Singapore, Feb 1, 2026, 15:34 (SGT) — Market closed
- City Developments shares ended Friday at S$9.28, slipping 0.6%.
- Agents reported that Newport Residences moved 139 of its 246 units on Jan 31.
- Monday’s session and the results due February 27 will be the next key tests for the stock.
City Developments Ltd’s Newport Residences saw 139 of its 246 units snapped up during its January 31 launch, property agents told The Edge Singapore. The sea-facing two-bedroom units were completely sold out. Mark Yip, CEO of Huttons Asia, described the strong response as “pent-up demand,” highlighting the introductory price starting at S$1.298 million, or roughly S$3,012 per square foot. This freehold project stands out in the central business district, where most new mixed-use developments come with 99-year leases. The Edge Singapore
Launch-day sell-through—the percentage of units snapped up on day one—offers a fast snapshot of demand and pricing strength. For developers, it directly impacts cash flow and how quickly profits hit the books.
CDL shares come into this with momentum, buoyed by January’s rally. The market’s closed over the weekend, so the real test hits when trading restarts Monday. Any updates on bookings after that will be scrutinized closely.
City Developments Ltd (C09.SI) closed Friday at S$9.28, down S$0.06, after fluctuating between S$9.28 and S$9.42 on roughly 2.28 million shares traded. The stock has risen roughly 16% since the end of 2025 but fell about 1.7% from its January 27 close.
The company unveiled Newport as a 246-unit freehold development spanning levels 23 to 45 of Newport Plaza in a Jan 14 press release ahead of its launch. Sherman Kwek noted the group was pressing on, buoyed by “strong and resilient demand” for recent prime-area projects. CDL
The Straits Times Index dropped 0.5% on Friday, following declines in U.S. stocks overnight, The Business Times reported. This drop underscores how broader risk shifts can overshadow individual stock developments.
Launch-day figures tend to be volatile, and high-priced units usually take more time to sell. Should borrowing costs climb again or policies tighten, sales momentum might falter, pushing developers to carry inventory for longer periods.
CDL is set to unveil its unaudited full-year results on Feb 27, ahead of the Singapore Exchange open, according to a filing. Investors will focus on margin updates, net gearing levels, and any hints about further asset recycling or shareholder payouts.
Monday’s open on Feb 2 will be the first real test for the share price following the weekend’s sales update. The next major trigger comes with the Feb 27 report.
