City Developments reported Tuesday a continued stable 3Q21 recovery, pointing to improved property sales and hotel rates and occupancy.
Sincere Property Group
City Developments has entered a deal to exit its holding in Sincere for US$1, in a move to ring-fence the impact of a troubled investment.
City Developments’ deal to invest in China developer Sincere Property offers a “better platform” to expand on the mainland, Daiwa said.
City Developments said Wednesday it entered a deal to invest in China property developer Sincere Property for a total 5.5 billion yuan.