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Property market picking up: CDL's Kwek

Property market picking up: CDL's Kwek

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In recent weeks, property veteran Kwek Leng Beng has seen positive signs in the property market. They have come in the form of text messages about rising unit sales from City Developments (CDL) group general manager Chia Ngiang Hong. Mr Kwek, CDL executive chairman, said: "It shows that the market is moving. Every week, Mr Chia sends messages where I see sales move up from five to 10 to 30, 50 units. It's a good indication. I've also noticed the high-end sales have been moving quite steadily, and at the low-end showrooms, people have been crowding around." Mr Kelly's last day is Dec 31, and deputy chief executive Sherman Kwek, 41 - son of the executive chairman - now CEO-designate, will take over on Jan 1 next year. CDL's second-quarter net profit fell 17.9 per cent to $109.9 million for the three months ended June 30, while quarterly revenue fell 21.8 per cent to $854.1 million. The firm said this was owing to the absence of contribution from Lush Acres executive condominium, which was completed in the quarter last year. Its residential developments here, such as upmarket [URL=" https://sg-property.sg/properties/gramercy-park/"] freehold condominium Gramercy Park[/URL], as well as joint-venture projects like The Venue Residences - which has been fully sold - contributed to earnings. More info [URL=" https://sg-property.sg/properties/gramercy-park/"] click here [/URL] or [URL=" https://sg-property.sg/"] Home Page [/URL]
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