SINGAPORE, Jan 31, 2026, 15:34 (SGT) — Market closed
City Developments Limited shares slipped 0.6% to close at S$9.28 on Friday, staying close to a 52-week peak ahead of the weekend break. Trading volume hit roughly 2.28 million shares, with the stock oscillating between S$9.28 and S$9.42.
Despite the recent drop, the stock has still gained roughly 16% so far in January, according to MarketScreener data — a rally that could amplify the impact of upcoming news.
City Developments is set to open bookings this Saturday for Newport Residences, a 246-unit freehold condo. Prices start at S$1.298 million for a one-bedroom unit. Group CEO Sherman Kwek said “the time is right” to launch in this prime location. CDL
The broader market closed the week on a weaker note. The Straits Times Index dropped 0.5% on Friday, following overnight losses on key U.S. indexes, a market report said.
CDL Hospitality Trusts posted a total distribution of S$35.9 million for the second half of 2025, marking a 1.2% increase from last year, with a distribution per stapled security (DPS) of 2.82 cents. The trust’s chief executive, Vincent Yeo, described 2025 as “a year of transition” amid efforts to reduce funding costs. For clarity, DPS refers to cash paid per stapled security, while net property income (NPI) represents rental earnings after property expenses.
City Developments manages a diverse portfolio that includes development projects, investment properties, and hotels. Its assets cover residences, office spaces, hotels, and serviced apartments. This blend means the stock can react to shifts in both housing demand and travel patterns—sometimes within just days.
Weekend launches don’t always lead to straightforward sales figures, and a strong month can quickly become shaky if initial bookings disappoint. Rising funding costs would only add to the pressure.
Investors will be looking for post-launch signals when trading kicks off again Monday, followed by the company’s full-year results in February. City Developments plans to publish its unaudited FY2025 numbers before the Singapore Exchange opens on Feb. 27 and will host a briefing at 10:00 a.m. that day.
