#city developments

This is the start of a series that I would love to continue as an ongoing project. Through this project, I want to document “who is today part of the capital of Albania, Tirana, what are their dreams and aspirations and how things have changed in the past fifteen years”. When I first thought about starting this project, I wanted to focus on those that are being more entrepreneurial and wanting to…

City Developments Return Of The PPS

City Developments

City Developments has announced its second Profit Participating Security (PPS) transaction valued at S$1.07b, in a 60:40 JV with Alpha Investment Partners. Investors in the PPS transaction will receive a fixed payout of 5% p.a. over a period of five years in addition to participation in asset divestment. The PPS offers an opportunity for CDL to recycle capital, in addition to…

CDL Hitting the right notes

CDL City Developments

Seeding a new investment platform with three office properties worth S$1.1bn

Extracting shareholder value; enables group to recycle capital into other investments with a better exit strategy in the medium term

Immediately accretive to NAV and EPS

BUY maintained , TP S$10.26

Seeding new JV with three office properties. City Dev Seeding new JV with three office properties.…

CDL Assuming Coverage with OUTPERFORM

CDL

Assuming coverage with OUTPERFORM and S$12.00 TP (from S$12.25): We believe that multiple catalysts lie ahead for City Developments, with further upside likely being driven by: (1) asset divestments to unlock portfolio value, (2) positive sales momentum from past overseas investments, (3) a pickup in Singapore residential sentiment in 2016, with the potential tweaking of residential policy…

City Developments Ltd – Value unlocked with a Quay

Weak core PATMI offset by Quayside PPS. City Developments Ltd posted a 73.4% YoY in 4Q14 PATMI to S$384.9m, boosted by a S$330.9m gain arising from the setting up of Profit Participation Securities (PPS) embedding cashflows from the Quayside Collection at Sentosa Cove. Full-year PATMI came in at S$769.6m, up 12.2% YoY. Excluding the gain from the PPS and other one-off items, we estimate core…

FUTURE LONDON | 5 Developments to Watch in 2015

 “The cranes are swinging into action”

New year, new city-building, for better or for worse. London’s rate of change means that cranes along the skyline are something of a fixture, but the vast swathes of the city undergoing redevelopment in 2015 stand as a telling reflection of the priorities, opportunities and challenges of London today.

See also: Jan Gehl & Richard Rogers talk liveable…

City Developments – Unique value unlocking platform

We take a positive view of City Developments ’s agreement with Blackstone and CIMB Bank to create a unique S$1.5bn investment platform to invest in the cashflow of its Sentosa Cove propertiesas it will enable City Developments to unlock and recycle capital value from this project while benefiting from further potential upside through its 37.5% stake in the new platform. The latest valuation is…

City Developments – Unique value unlocking platform

We take a positive view of City Developments ’s agreement with Blackstone and CIMB Bank to create a unique S$1.5bn investment platform to invest in the cashflow of its Sentosa Cove properties as it will enable City Developments to unlock and recycle capital value from this project while benefiting from further potential upside through its 37.5% stake in the new platform. The latest valuation is…