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Sign in Sign up for a FREE subscriptionCity Developments plans to redevelop assets and divest noncore properties
City Developments has plans to redevelop two assets in Singapore — the 38-story Fuji Xerox Tower office building in the Tanjong Pagar district and the seven-story Central Mall office and retail complex on Havelock Road, reported The (Singapore) Business Times.
It also is planning to divest some noncore hotels held by the group, and some of the investment properties held by Sincere Property Group in China.
The SGX-listed developer reported a 99 percent slump in net profit in the first six months of the year, compared to the same period in 2019.
