City Developments Limited (CityDev) is a Singaporean multinational real estate operating organisation. It was established in 1963, and started developing projects in Singapore and Johor Bahru, Malaysia. Today, CityDev is a major player in the property development industry in Asia. Listed on the Singapore Exchange, CDE stock offers investors a way to invest in the company.
In recent trading, City Developments share price has fallen from a high of S$9.37 to a low of S$7.88. This means that the share price is in a downtrend and is likely to slide even lower in the next week. It is likely to test a support line near S$8.23 and another support line at S$7.56.
As a publicly-traded company, City Developments Limited is a leading global developer of integrated developments, hotels, and residential properties. The company is headquartered in Singapore. It operates through four segments: Property Development, Hotel Operations, and Investment properties. Each of these segments specializes in a specific area of real estate.
The company is one of the largest property development companies in the world, with a portfolio that includes hotels, serviced apartments, shopping malls, and integrated developments. Its subsidiaries are part of some of the world’s largest hotel groups, including Millennium & Copthorne Hotels plc. Its portfolio includes more than 130 hotels worldwide, with many located in key gateway cities.
CapitaLand share price has suffered a minor pullback in the last week, falling from a high of S$3.50 to a low of S$2.95. It closed last week at S$3.15, indicating that it could trend higher in the next week. Alternatively, the share price may slip back down to S$6.83. If it retraces the resistance line at S$7.31, it may be ready to resume its upward journey.