News analysis

CDL's 'game-changing' China deal turns out to be more difficult than expected

CDL has written off almost all of its $1.8 billion stake in Sincere Property. PHOTO: ST FILE
New: Gift this subscriber-only story to your friends and family

SINGAPORE - When City Developments Limited's investment in Chinese developer Sincere Property was announced last April, the move was described as "a historic transformational deal" and "a game-changing investment".

Barely a year later, things have gone south.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.