City Developments (SG:C09) has released an update.
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City Developments Ltd. (CDI) has acquired 10.08 hectares of industrial land in Burnside, Christchurch for $17.1 million, aiming to develop it into a significant number of industrial lots. This move is part of the company’s diversification strategy and leverages a rare opportunity to expand in a strategic location. The development will enhance CDI’s commercial portfolio and is set to proceed without the need for borrowed funds, with a settlement date in September 2024.
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