CDL's H1 Profit Rises to S$91.2M, Signals Strong Property Market

City Developments Limited (CDL), one of Singapore's leading property developers, reported a 3.9% year-on-year increase in first-half net profit to S$91.2 million, demonstrating resilience in Singapore's robust financial market performance.

Strong Revenue Growth and Special Dividend

The company's first-half revenue climbed 8% to S$1.69 billion, primarily driven by its successful Copen Grand executive condominium project completed in April 2025. In a move that signals confidence in its financial position, the board proposed a special interim dividend of 3 cents per share, up from 2 cents in the previous year.

Strategic Capital Recycling and Development Success

CDL's commitment to strategic growth mirrors the dynamism seen in Singapore's evolving corporate landscape, with over S$1.5 billion in divestments achieved year-to-date. The company anticipates an additional gain of S$465 million from the sale of its South Beach mixed-use development stake in Q3 2025.

Challenges and Market Dynamics

Despite strong overall performance, the company faced challenges including a S$63.1 million net foreign exchange loss, primarily due to USD depreciation affecting intercompany loans. This situation highlights the importance of .

Future Growth and Leadership

The property development segment emerged as the largest revenue contributor, posting a 24.3% increase. Executive chairman Kwek Leng Beng's ambitious plan to triple the group's hotel portfolio to 500 properties underscores CDL's aggressive growth strategy in the hospitality sector.