, or CDL, has reported a turnaround.
Net profit stood at S$97.7 million for FY2021, a sharp reversal from the net loss of S$1.9 billion in FY2020.that CDL made for its investment in China’s Sincere Group.The group’s GET strategy, which stands for “Growth, Enhancement and Transformation”, is a multi-prong approach that helps to expand its portfolio and realise value from its assets.
In Japan, the group has two developments worth around S$60.5 million that are slated for completion in April 2022.Including its joint venture partners’ share, CDL has a Singapore residential launch pipeline of around 2,350 units stretching till the first half of 2023. Elsewhere in Singapore, the group is carrying out AEI on commercial property King’s Centre and high-end retail mall Palais Renaissance, with completion targeted in the first half of this year.