CDL H1 profit jumps three times to S$301 million on strong condo sales, doubles interim dividend
S$0.06-a-share-dividend comes on 61% surge in revenue to S$2.72 billion
Singapore's property developer City Developments Ltd (CDL) reported a significant increase in its first half net profit, jumping three times to S$301.6 million, compared to S$91.2 million in the same period last year. This growth was primarily fueled by strong performance in its property development segment, notably due to the recognition of full revenue and profit from Lumina Grand, a new 512-unit executive condominium in Bukit Batok.
The condominium obtained its Temporary Occupation Permit in April, contributing to the surge. Additionally, the company's revenue for the half year rose 61.1 percent to S$2.72 billion, up from S$1.69 billion in H1 2025. CDL doubled its interim dividend to S$0.06 per share, to be paid on September 4, after the record date on August 21.
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