{"id":94523,"date":"2018-07-24T10:33:51","date_gmt":"2018-07-24T03:33:51","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/cdl-may-cut-unit-prices-by-5-10-rhb\/"},"modified":"2018-07-24T11:02:49","modified_gmt":"2018-07-24T04:02:49","slug":"cdl-may-cut-unit-prices-by-5-10-rhb","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cdl-may-cut-unit-prices-by-5-10-rhb\/","title":{"rendered":"CDL may cut unit prices by 5-10%: RHB"},"content":{"rendered":"


\nLaunch crowd at The Tapestry showflat. (Photo: CDL)
\nCity Developments Limited (CDL) is expected to be negatively affected by the government\u2019s latest property cooling measures given its market position, according to RHBInvest analyst Vijay Natarajan.
\nFor instance, the Singapore-listed property developer has among the biggest unsold residential inventory in the city-state of about 3,300 units and this is estimated to account for 25 percent of its revalued net asset value (RNAV). Singapore also contributed to 51 percent of the company\u2019s assets and 62 percent of its revenue as of Q1 2018.
\nMore: Healthy sales at CDL\u2019s New Futura thanks to foreign buyers \u00a0
\n\u201cWe expect the latest round of property cooling measures to adversely impact margins at its developments, and have trimmed our selling price assumptions by 5.0 to 10 percent,\u201d said Natarajan.
\nIts upcoming developments that are likely to feel the brunt of the new property curbs are the Amber Park en bloc site, Handy Road and West Coast Vale sites as well as the Sumang Walk executive condominium (EC) plot, as these were acquired at higher prices relative to nearby sites in anticipation of a recovery.
\nThe property developer\u2019s latest project is The Tapestry in Tampines, which has sold 315 units or 70 percent of the 450 units released during its launch in March.
\nMeanwhile, the UK accounted for 12 percent of CDL\u2019s assets as of the first quarter, while China and the US made up 10 percent and 8.0 percent respectively.
\nHowever, the near-term outlook for the company\u2019s UK projects remains subdued due to the slow progress in the country\u2019s negotiations to exit from the European Union.
\nHome buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…CDL may cut unit prices by 5-10%: RHB<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Launch crowd at The Tapestry showflat. (Photo: CDL) City Developments Limited (CDL) is expected to...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-94523","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-oAz","jetpack-related-posts":[{"id":103066,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/redas-names-cdl-group-general-manager-as-new-president\/","url_meta":{"origin":94523,"position":0},"title":"REDAS names CDL group general manager as new president","date":"January 18, 2019","format":false,"excerpt":"\r Augustine Tan will be stepping down as president of REDAS. (Photo: Far East Organization) The Real Estate Developers\u2019 Association of Singapore (REDAS) has named Chia Ngiang Hong, group general manager at City Developments Limited (CDL), as its new president for the 2019\/2020 term, reported the Business Times. He will\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":95781,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cdls-net-profit-up-79-5-in-q2\/","url_meta":{"origin":94523,"position":1},"title":"CDL\u2019s net profit up 79.5% in Q2","date":"August 10, 2018","format":false,"excerpt":"\r CDL\u2019s strong performance was helped by its residential projects in Singapore, such as the high-end New Futura condominium. City Developments Limited\u2019s (CDL) net profit for the second quarter of 2018 soared 79.5 percent year-on-year to $204.8 million, while revenue jumped 59.2 percent year-on-year to $1.36 billion on the back\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":37418,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cdl-to-benefit-from-improving-market-sentiment\/","url_meta":{"origin":94523,"position":2},"title":"CDL to benefit from improving market sentiment","date":"December 8, 2016","format":false,"excerpt":"\r CDL has the largest available land bank and unsold inventory, with an estimated 2,909 units worth $5.8 billion. Improving sentiment in the housing market will likely benefit City Developments Limited (CDL), as it remains the developer with the most available inventory, with much of its land bank purchased at\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":54495,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cdl-posts-8-4-rise-in-q1-revenue\/","url_meta":{"origin":94523,"position":3},"title":"CDL posts 8.4% rise in Q1 revenue","date":"May 12, 2017","format":false,"excerpt":"\r Despite a challenging market, City Developments Limited (CDL) recorded a revenue of SGD783.8 million in Q1 2017, up 8.4% from the SGD723.3 million in the same period a year ago, revealed an SGX filing on Thursday (11 May). \u201cThe increase is attributable to improved performance from the property development\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":112995,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cdl-chief-wants-absd-extension-to-ease-immense-pressure\/","url_meta":{"origin":94523,"position":4},"title":"CDL chief wants ABSD extension to ease "immense pressure"","date":"December 11, 2019","format":false,"excerpt":"\r (Above: The recently launched Sengkang Grand Residence by CDL) One of Singapore\u2019s largest developers, City Developments Ltd (CDL), has put the finger on the Additional Buyer\u2019s Stamp Duty (ABSD) levy imposed by the government\u00a0as the indirect cause of\u00a0the large property supply overhang in Singapore. According to the rules, developers\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":96181,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cdl-capitaland-bags-prime-site-in-sengkang-central\/","url_meta":{"origin":94523,"position":5},"title":"CDL-CapitaLand bags prime site in Sengkang Central","date":"August 17, 2018","format":false,"excerpt":"\r A joint venture (JV) between CapitaLand and City Developments Ltd (CDL) has clinched a prime mixed-use site in the heart of Sengkang Central for $777.78 million ($923.6 psf ppr), announced the Urban Redevelopment Authority (URA) on Thursday (16 August). The JV said the 3.7ha (401,008 sq ft) site is\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/94523"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=94523"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/94523\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=94523"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=94523"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=94523"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}