City Developments' nine-month sale up to $2.5b

It also reported strong occupancy at its office and retail portfolio.

City Developments Limited (CDL) and its joint ventures (JV) sold 990 properties with a total value of $2.5b during the first nine months (9M) of 2025, up from 905 units sold with a sales value of $1.8b from the period before.

In its property development segment, CDL cited its strong sales from its 777-unit The Orie JV project at Toa Payoh, which was launched in January with 730 units or 94% of total units sold to date.

The firm acquired the Lakeside Drive Government Land Sales (GLS) site at Jurong in June and two executive condominium (EC) GLS sites in August.

One of the business’s EC sites is in Woodlands Drive 17, near its Norwood Grand project that was launched in October 2024 and is now 87% sold.

It won the 271,330 square feet site for $360.9m or $782 per sq. ft. per plot ratio. CDL also won a 109,354sq. ft. site at Senja Close for $252.9m.

As for its office portfolio, it achieved a committed occupancy of 97.3%, exceeding the island-wide average of 88.8%. Its Republic Plaza (97.6%) and City House (100%) properties saw strong occupancy.

CDL’s retail portfolio maintained a strong committed occupancy of 96.9% as of 30 September 2025, surpassing the island-wide rate of 93.1%, it said.

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