Singapore, February 3, 2026, 15:30 SGT — Regular session
- Shares of City Developments climbed roughly 1.8% in afternoon trading.
- CDL reported selling 57% of units during the launch weekend of its Newport Residences.
- All eyes are now on the group’s full-year results, expected later this month.
City Developments Limited shares climbed again Tuesday, building on Monday’s momentum following the developer’s announcement of strong early sales at its new city-centre development. The stock traded 1.8% higher at S$9.54 by 3:18 p.m. local time, up from S$9.37 at Monday’s close.
The weekend figures are crucial as they offer a snapshot of demand in Singapore’s prime residential sector, where sales can pivot sharply with changes in rates and policy. For developers, rapid early sales help relieve funding strains and set profit outlooks, though these results take time to appear in reported revenue.
CDL reported selling 140 of 246 units, or 57%, at Newport Residences by 5 p.m. on Feb. 1, with an average price of S$3,370 per square foot (psf). Located in the Core Central Region (CCR), this development is in one of the city’s most sought-after locations. “We are encouraged by the positive response to Newport Residences,” group CEO Sherman Kwek said in a statement. CDL
Property agents reported strong interest in sea-facing units on day one, noting that early sales indicate steady demand for city living in “well-priced” projects within prime areas. PropNex CEO Kelvin Fong described the response as “bodes well” for upcoming CCR launches scheduled later this year. The Edge Singapore
CDL, run by the Kwek family, stands as one of Singapore’s top developers and holds hotel operations and investments abroad. Its shares have seen swings lately, driven by asset sales, new project launches, and fluctuations in the travel sector.
For equity investors, the math in the short term is straightforward: solid bookings boost future earnings visibility, yet actual cash flow and revenue hinge on construction progress and completion dates. A red-hot launch can lose steam quickly, particularly in the luxury market.
Risks remain. Rising borrowing costs could squeeze affordability, while Singapore’s housing restrictions may cap demand for luxury properties. Developers also grapple with the usual uncertainties around construction expenses and whether buyers will actually close deals, especially on pricier units.
CDL is set to report its FY2025 results next, with a Singapore Exchange filing confirming the unaudited full-year figures will drop before trading opens on Feb. 27. A briefing on the results will follow that same morning.
