28 Feb '14, 12am

CDL posts lower earnings for Q4 - Property Auctions News, Property Investment | PropertyGuru

Revenue for Q4 2013 came in at $774 million, a 12.6 percent decline from the previous year. Net profit for the last three months ended 31 December decreased 11.4 percent to $221 million from the year before. Despite the drop, the group said in a statement that it had emerged as Singapore’s top-selling private developer in 2013 with a total of 3,210 units including ECs sold, a 25 percent increase from the preceding year. CDL launched seven residential projects last year, which it said saw good take-up. It plans to launch two housing projects in the first half of 2014. These include a 944-unit condominium with six retail units at Pasir Ris Grove and a development comprising 845 units at Commonwealth Avenue. Meanwhile, no definite launch date has been given for the 190-unit luxury South Beach Residences , which CDL stated “will be launched at an appropriate time”. Commenting,...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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