City Developments Exits Singapore Condos to Raise S$978 Million

  • Capital raised from deal will be recycled for growth plans
  • Increases funds under management to more than S$3.5 billion

City Developments Ltd., Singapore’s second-largest developer, is exiting its equity stake in a 156-unit luxury condominium project in the city-state in a move that will free up S$977.6 million ($702 million), as it seeks to expand its fund management business.

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