City Developments Raises Over SG$600 Million via Global Asset Divestments in 2024

MT Newswires

2025/01/17

City Developments (SGX:C09) raised over SG$600 million through asset divestments in 2024, according to a filing with the Singapore Exchange on Thursday.

The divestments were part of the group's capital recycling initiative to "optimize and unlock the value of its portfolio."

The divestments include the sale of Ransome's Wharf site in London, Citilink Warehouse Complex, Cititech Industrial Building, Fortune Centre and Sunshine Plaza in Singapore, the filing said.

The real estate firm's shares were up more than 1% in recent trade.

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