City Developments (SG:C09) has released an update.
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City Developments has strategically acquired 48.3 hectares of land in New Zealand, signaling a strong focus on future growth despite a dip in after-tax profits for 2023. The company is set to initiate off-the-plan sales for the Iona Block development in Havelock North by mid-year, with expectations of a stronger financial performance in 2024. A positive trend in sales and various new opportunities under consideration promise a momentum that could extend into 2025.
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