Singapore, January 17, 2026, 15:19 SGT — Market closed
- City Developments shares closed Friday 2.35% higher, at S$9.16.
- Investors will keep an eye on Newport Residences bookings when they come in later this month, followed by a results update at the end of February.
- A profit warning from a partner has thrust overseas currencies and China’s property market back into focus.
City Developments Ltd (CDL) shares rebounded on Friday, closing 2.35% higher at S$9.16, following a 0.33% drop the previous day. Trading volume hit roughly 4.1 million shares. (StockAnalysis)
Singapore markets are closed for the weekend, turning attention to whether a high-profile CBD residential launch can attract fast bookings and what the developer reveals about demand ahead of the upcoming earnings report.
CDL has kicked off previews for Newport Residences, a freehold development featuring 246 units on Anson Road. Sales bookings are set to open on Jan. 31, the company announced. CDL group CEO Sherman Kwek commented, “the time is right to unveil this rare freehold offering.”
Early take-up is crucial for developers since it offers a quick gauge of buyer demand and pricing strength before the wider market can react. In prime projects, it often influences how aggressively competitors price their next launches.
CDL also highlighted a separate update this week: in a Thursday SGX announcement, it referred to profit guidance from its associated company First Sponsor Group Ltd, covering unaudited results for the half and full year ending Dec. 31, 2025. (SGX Links)
First Sponsor flagged a net loss for both the second half and full year of 2025, driven mainly by fair value hits on financial derivatives and forex losses after overseas currencies gained versus the Singapore dollar. The company reported an unrealised mark-to-market loss — a revaluation of hedges at current prices — of S$58.6 million for the half and S$56.1 million for the full year. It also plans to record impairment and fair value losses linked to some mainland China properties. Cash and undrawn committed bank facilities stood above S$500 million at end-December. First Sponsor said it aims to announce results around Feb. 25.
CDL shareholders are reminded that earnings reports can still fluctuate due to currency and valuation shifts, despite existing hedges. The focus remains on potential ripple effects from China-related real estate assets held via associates and joint ventures.
Developer peers remain busy in the land market. A consortium led by UOL Group secured a S$1.50 billion government tender this week for a sizable integrated site. The deal highlights ongoing fierce competition for Singapore plots, even amid rising financing costs over the last two years. (Reuters)
CDL faces a clear short-term risk: previews don’t always turn into confirmed bookings, particularly at the high end where buyers have the luxury to hold back. Any new swings in currency markets or additional write-downs on overseas assets could further dampen mood ahead of earnings.
CDL announced it will publish its unaudited FY2025 results ahead of the market open on Feb. 27, with an analyst and media briefing scheduled for 10:00 a.m. that same day, per an SGX filing. (SGX Links)
