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Old 14-05-2020, 12:31 PM
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Default CDL Sold More Units in Q1 2020 But at Lower Sales Value

CDL sold more Singapore Properties in Q1 2020 but at lower sales value. CDL and its joint-venture associates sold 185 units with total sales value of $278.1 million for its first quarter ended March 31, versus 173 units with sales value of $516.3 million a year ago.

The lower sales value was due to a majority of residential units sold being mass and mid-market projects. In contrast, CDL said it sold units mainly from ultra-luxury projects in the first quarter a year ago.

CDL said it expects its sales volume to decline during the circuit breaker period. Notwithstanding the temporary setback, the group continued to register sales in April for projects such as Sengkang Grand Residences.

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