CDL: It's not the time to buy yet!

Choose a condominium, most important is the developer. As it determines the quality of the project. No doubt that City Development (CDL) is one of the best. The CDL executive chairman Mr Quek says today: "The buyer-seller price gap is too wide still, so it's not the time to by, earlier next year could be better"! End 09 or early next year could be better.

So lets take a look at the projects that CDL has launched so far this year:
Livia (at Pasir Ris): 724 units
The Arte (at Thomson): 336 units
The Quayside Isle (at Sentosa Cove)

Current, the group has 142 unsold units from projects previously launched. With less than 10% of those high-end.

CDL is holding back its South Beach project. Saying there was no impairment required for the development. And Mr Kwek (the chairman of CDL) refuted rumours that the consortium partners pulling out of the project.

The company is planning to issue the second Islamic Sukuk in the first quarter this year. It is likely to be 3 or 4 times larger than the first one. In Jan, CDL issued $100 million worth of notes under its $1-billion Islamic note programme.


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