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Singapore-based real estate developer and hotel owner (via Millennium & Copthorne), with residential, commercial and hospitality assets.
Singapore-based real estate developer and hotel owner (via Millennium & Copthorne), with residential, commercial and hospitality assets.
Earns from selling homes, with profit recognised as projects are built and sold, plus rent from offices and malls and room income from hotels, which cushions the swings in home sales. Singapore residential carries most earnings, with overseas projects in markets such as the UK. The Kwek family's Hong Leong Group is the controlling shareholder.
In one line: A Singaporean hybrid of a homebuilder and hotel owner.
Moat: narrow (scale, brand, installed base). Long-standing Singapore developer brand and a global hotel portfolio, in a cyclical property market.
Headquarters: Singapore · Founded: 1963 · Employees: 9,546
Size City Developments (C09.SI) is a Singapore Real Estate company (Real Estate Development) with a market value of $5.13B, the 22nd largest of 186 Singapore companies the cockpit tracks. Shares closed at S$7.22 on 6 Nov 2026.
Performance Over six months the shares fell 11.0%, against -8.2% for the median peer and -1.2% for the Singapore market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue grew 36.2% over the last twelve months (peer median +5.0%); the operating margin is 13.9% (peer median 21.0%).
Valuation It trades at 14.1× forward earnings against a peer median of 12.8× (7th most expensive of 18).
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | S$4.64B | S$3.61B | S$3.30B | S$4.95B | S$3.31B |
| Revenue growth | — | +9% | -33% | +49% | — |
| Gross profit | S$1.63B | S$1.48B | S$1.49B | S$1.66B | S$1.26B |
| EBITDA | S$940M | S$675M | S$684M | S$918M | S$433M |
| Net income | S$840M | S$630M | S$201M | S$317M | S$1.29B |
| Free cash flow | -S$1.70B | -S$2.39B | S$333M | S$360M | -S$375M |
| Capital expenditure | S$239M | S$508M | S$185M | S$280M | S$116M |
| Total debt | n/a | S$14.1B | S$14.0B | S$12.4B | S$10.5B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| City Developments C09.SI | $5.13B | -11% | +36% | 14% | 14.1× | n/a |
| UOL U14.SI | $5.23B | -23% | +2% | 25% | 13.8× | n/a |
| Frasers Property TQ5.SI | $2.80B | -20% | -21% | 29% | 26.8× | n/a |
| GuocoLand F17.SI | $1.75B | -16% | -24% | 7% | 11.5× | n/a |
| CapitaLand Investment 9CI.SI | $9.22B | -11% | -15% | 29% | 19.3× | n/a |
| Keppel BN4.SI | $13.0B | -13% | +11% | 11% | 18.9× | 14.8% |
| Wing Tai W05.SI | $846M | -10% | +168% | 6% | n/a | n/a |
| Hongkong Land H78.SI | $17.7B | -1% | -25% | 23% | 20.9× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | C09.SI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.7% | +4.2% | 10th lowest of 21 |
| 6-month return | -11.0% | -8.2% | 10th lowest of 21 |
| Distance from 52-week high | -28.4% | -25.4% | 9th lowest of 21 |
| Revenue growth (TTM) | +36.2% | +5.0% | 3rd highest of 21 |
| Operating margin | 13.9% | 21.0% | 9th lowest of 21 |
| Forward P/E | 14.1× | 12.8× | 7th most expensive of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| City Developments C09.SI | Singapore | $5.13B | -11% | +36% | 14% | 14.1× | n/a | n/a |
| Nomura Real Estate 3231.T | Japan | $5.17B | -12% | +19% | 14% | 8.8× | n/a | n/a |
| UOL U14.SI | Singapore | $5.23B | -23% | +2% | 25% | 13.8× | n/a | n/a |
| Tsim Sha Tsui Properties 0247.HK | Hong Kong | $5.24B | -20% | +15% | 34% | n/a | n/a | n/a |
| China Vanke 2202.HK | Hong Kong | $5.28B | -30% | -35% | -27% | n/a | n/a | n/a |
| Shanghai Lujiazui Finance & Trade Zone Development 600663.SS | China | $4.81B | -10% | -21% | 21% | 14.0× | n/a | n/a |
| Howard Hughes HHH | United States | $4.64B | +18% | +32% | 15% | 29.6× | n/a | n/a |
| Tokyu Fudosan Holdings Corporat 3289.T | Japan | $5.69B | -7% | +6% | 14% | 8.6× | n/a | n/a |
| Shanghai Zhangjiang Hi-Tech Park Development 600895.SS | China | $5.71B | -33% | +89% | 26% | 36.4× | n/a | n/a |
| Godrej Properties GODREJPROP.NS | India | $5.77B | -4% | +17% | 21% | 24.5× | n/a | n/a |
| Castellum CAST.ST | Sweden | $5.94B | +10% | -3% | 67% | 16.1× | n/a | n/a |
| Hang Lung Ppt 0101.HK | Hong Kong | $4.40B | -29% | +10% | 53% | 11.8× | n/a | n/a |
| LEG Immobilien LEG.DE | Germany | $4.39B | -11% | +1% | 34% | 8.1× | n/a | n/a |
| Meritage Homes MTH | United States | $4.38B | +4% | -15% | 7% | 16.2× | n/a | n/a |
| Tokyo Tatemono 8804.T | Japan | $4.37B | -6% | +17% | 22% | 10.3× | n/a | n/a |
| Hangzhou Binjiang Real Estate 002244.SZ | China | $4.27B | -2% | -35% | 6% | 12.8× | n/a | n/a |
| Seazen 601155.SS | China | $4.23B | -15% | -39% | 14% | 31.9× | n/a | n/a |
| Shanghai Vital Deeptech 600641.SS | China | $4.20B | +14% | +94% | -27% | n/a | n/a | n/a |
| NEPI Rockcastle NRP.AS | Netherlands | $6.34B | +9% | +20% | 62% | 12.1× | n/a | n/a |
| C&D International Investment 1908.HK | Hong Kong | $4.11B | -15% | -15% | 7% | 8.2× | n/a | n/a |
| Fastighets AB Balder BALD-B.ST | Sweden | $6.43B | -2% | +4% | 66% | 12.2× | n/a | n/a |