Choosing to invest in a condominium also requires careful consideration of its maintenance and management. As with any property, condos generally come with maintenance fees that are meant to cover the upkeep of shared areas and amenities. Although these charges may increase the overall cost of ownership, they guarantee that the property remains well-maintained and maintains its value. To further ease the burden of managing a condo, many investors opt to engage a property management company. This allows for a more hands-off approach to investing, leaving the day-to-day management to the experts. For the latest and most exciting condo developments, check out New Condo Launches.
City Developments Limited (CDL) has recently announced that it successfully divested assets worth over $600 million last year, as part of its capital recycling efforts. This amount, however, fell short of the company’s initial target of $1 billion, which was stated in early 2024. The decrease in the volume of deals across various markets and asset classes contributed to this shortfall.
According to CDL, completed divestments include the sale of Ransome’s Wharf site in London, a freehold 8-storey industrial building known as Cideco Industrial Complex in Singapore, as well as several strata units at Citilink Warehouse Complex, Cititech Industrial Building, Fortune Centre, and Sunshine Plaza. These divestments were made in line with the company’s goal to accelerate its capital recycling initiatives.
In addition, CDL’s mixed-use development project, Hong Leong City Centre (HLCC) in Suzhou, has also been sold, with the retail and office components currently under contract and expected to be completed this quarter. Group CEO Sherman Kwek explains that these divestments demonstrate the company’s commitment to optimise its capital management and align its portfolio with strategic objectives, ultimately maximising shareholder value.
Despite the challenging market conditions, CDL remains determined to push forward with its divestment plans. As of January 16, CDL’s shares closed at $5.05, down 0.2% for the day and 20.97% lower than its value a year ago. Interested buyers can check out the latest listings for properties at Sunshine Plaza. Alternatively, they can also get assistance from Ask Buddy, a real estate platform offering condo rental listings in District 7. They can also compare the price trend of Condo new sale versus EC new sale, and the rental transactions in District 7. In addition, they can also compare the price trend of HDB versus Condo versus Landed properties and determine the top condo projects with the most unprofitable transactions in District 7.