The assets monetised were 7 & 9 Tampines Grande, Manulife Centre and Central Mall (Office Tower) valued at S$1.1 billion on a 99-year leasehold basis via a second Profit Participation Securities investment platform (PPS 2) in December 2015.
There was also a maiden contribution of S$12 million from the UK property development platform from the sale of Emerald House in Croydon, and higher revenue from the progressive sale and profit recognition from pre-sold projects in Singapore.
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A Dynamic business focus
Building value in new geographies
Building value in new products
City Development Limited CDL
Diversification strategy
Fall in oil prices
Global recession
Higher construction costs
HIgher land costs
Oversupply of property
Profit and loss statements
Stock market volatility