City Developments Limited (CDL) has reported a strong start to the year, generating S$1.9 billion in Q1 sales revenue from its Singapore property development segment. This demonstrates continued confidence in CDL’s project pipeline, despite broader economic uncertainties.

What Drove CDL’s Strong Q1 Performance?

CDL’s results were supported by robust demand across several newly launched projects. Strong upgrader activity, sustained foreign interest, and limited new supply contributed to the developer’s solid sales momentum.

• Healthy take-up rates for RCR and CCR projects
• Luxury properties drawing high-net-worth buyers
• Fully sold EC projects contributing to stable revenue recognition

Key Projects Contributing to Revenue

Midtown Modern & Midtown Bay

Integrated projects in Bugis continue to attract investors seeking strong rental demand.

Piermont Grand EC

Fully sold prior to completion, contributing consistent revenue recognition.

Irwell Hill Residences

Prime District 9 luxury homes continue to perform healthily among affluent buyers.

Market Outlook for 2025

CDL expects the private residential market to remain resilient. Stable employment, rising household incomes, and ongoing demand from both local buyers and expatriates are likely to support future launches.