CityDev to unveil 580 residential units in Q3

Plus 28 shop lots.

According to DBS, City Development plans to launch 580 residential units and 28 shop lots in Q3 comprising Lush Acres EC and Tai Thong Crescent development.

Here's more:

Hotel contributions are likely to be relatively subdued half-on-half as global economic recovery remains sluggish. The group would continue to refurbish its key hotel assets to reposition them and is looking at redevelopment opportunities at the Mayfair and Knightsbridge Hotels in London.

While City Dev has been raising its stake in M&C to 57.4% presently, there are no current plans to privatise the company. It is also exploring other growth platforms such as property development in London as well as private equity opportunities, which we believe could bear fruit in the medium term.

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