Link: https://links.sgx.com/1.0.0/corporate-announcements/QWWUYYY0Y1A3OZY6/f2addfc66c468a8fc517018f0c88e133772cc91ad8a5fb910b480f1f701533aa

Summary:

• City Developments Limited (CDL) reported a strong operational performance in Q1 2025, with Singapore property sales significantly increasing by 85% in volume (795 units) and 155% in sales value ($1.9 billion) year-on-year, primarily driven by the successful launch of The Orie.
• Internationally, CDL advanced key projects, including securing approval for a substantial residential-led mixed-use scheme in Mortlake, UK, achieving strong sales progress in Australian projects, and continuing residential and office unit sales in China.
• The Group's investment properties in Singapore maintained high committed occupancy rates of 97.2% for office and 96.2% for retail, though the China office portfolio experienced lower occupancy at 52.7%.
• As of March 31, 2025, CDL showcased a robust financial standing with a net gearing ratio of 72%, supported by $2.0 billion in cash reserves and $3.8 billion in available undrawn committed bank facilities.
• Looking ahead, CDL remains cautiously optimistic amidst macroeconomic uncertainties, focusing on disciplined land replenishment in Singapore and prudent capital management to enhance shareholder value.