On a half-year basis, revenue rose to $1.54 billion, an all-time high for the property developer. Its half-year net profit was $320.5 million.

In the meantime, CDL’s profit before tax for its property development segment jumped 266% to $238 million.

CDL’s view on the current US sub-prime market situation is that foreign funds looking for good investment property are likely to tread more carefully.

Chairman of CDL, Mr Kwek Leng Beng reckoned that prices for luxury apartments will not be going up in a straight line anymore until the crisis subsides. As the high-end market is driven by foreigners, the market may be slightly quieter from now on. Date of report – 15 August 2007

Edit by Sam Gian
(Singapore's Independent Real Estate Trainer & Consultant)