CDL H1 profit triples to $302m on property, hotel rebound

The board declared a tax-exempt interim dividend of $0.06 per ordinary share.

City Developments Limited (CDL) tripled its net attributable profit after tax and minority interest (PATMI) to $301.6m for the first half, as revenue climbed 61.1% year on year to $2.72b.

The property development segment led growth, with revenue up 166.8% year on year, driven by the fully sold Lumina Grand executive condominium.

Meanwhile, the hotel operations segment swung to a $42m pre-tax profit from an $84.4m loss in H1 2025, on higher revenue and a net exchange gain from SGD appreciation.

However, the investment properties segment was weighed down by lower capital recycling gains and the absence of contributions from properties divested in 2025, including Quayside Isle and the remaining strata units at Fortune Centre.

The board declared a tax-exempt interim dividend of $0.06 per ordinary share for the period.

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