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City Developments Ltd C09 Stock Quote

Morningstar‘s Stock Analysis C09

Valuation
Currency in SGD

Economic Moat

INVESTOR

Capital Allocation

INVESTOR

City Developments Targets Acquisition of Investment Properties in Transformation Strategy

Michael Wu, CAIA Senior Equity Analyst

Business Strategy and Outlook

| Michael Wu, CAIA |

City Developments, or CDL, is a diversified real estate development group based in Singapore. Since the 1990s, the business has expanded from residential development to commercial developments and hotel management. Approximately 45% of the group's earnings come from residential development, and 55% from investment properties and hotel management. The latter generates recurring income for the group. The group has taken steps to diversify away from Singapore. Revenue and earnings contribution from the city-state declined to below 50% of total revenue and total assets. We expect this to continue as the group increases the proportion of recurring income.

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Key Statistics C09

Company Profile C09

Business Description

City Developments, or CDL, is a listed property group of parent company Hong Leong Group. CDL's main businesses in property development and hotel operations makes up the majority of the group's operating profit. A portfolio of investment properties underpins recurring rental income and increasing income from investment properties is a key strategy for the group in the medium term. CDL's key geography is in Singapore with almost half of the group's total assets derived there. Its expansion into international markets is focused on the United Kingdom, China and Japan. CDL privatized its hotel operations, Millennium and Copthorne in 2019.

Contact
9 Raffles Place, No. 12-01 Republic Plaza
Singapore, 048619, Singapore
T +65 68778228
Industry Real Estate - Development
Most Recent Earnings Dec 31, 2019
Fiscal Year End Dec 31, 2022
Stock Type
Employees 404