CDL posts sluggish sales in Q3 22 due to low inventory

The firm recorded $281m sales value.

City Developments Limited (CDL) recorded sales value of $281m in the third quarter of 2022, which the group said was slower for the quarter because of low inventory of unsold units.

In a bourse filing, CDL said its launched projects were sold, with Sengkang Grand Residences selling out in Q3. There were also zero new launches during this period.

For the first nine months ending 30 September 2022, CDL and its join venture associates sold 802 units with a total sales value of $1.9b, lower than $2.5b sold in the same period last year.

In November, its launch of Copen Grand Executive Condominium boosted the total sales value to 1,417 units amounted to $2.8b.

Despite low stock levels due to cooling measures, CDL sees that the property market will still be resilient.

"Moreover, with a recovering economy, Singapore’s political stability, and its strength as a financial hub, there is sustained interest from local buyers, foreign investors and high-net-worth individuals," it said.

Follow the link s for more news on

City Developments Limited

Financial Statements

singapore property cooling measures

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia