City Developments Limited (CityDev) shares soared 3.82% in pre-market trading, as investors reacted to the company's robust financial performance for the first half of 2026.

The surge follows the release of the group's H1 2026 results, which showed a net profit attributable to shareholders of S$301.6 million, more than tripling from the previous year. Revenue climbed 61.1% to S$2.72 billion, while profit before tax jumped 188.6% to S$403.8 million. The stellar performance was largely driven by a 166.8% surge in property development revenue, primarily due to the profit recognition of the fully sold Lumina Grand executive condominium after it obtained its Temporary Occupation Permit.

Further boosting sentiment, the hotel operations segment swung to a pre-tax profit of S$42 million from a loss a year ago, supported by a 4.9% rise in global revenue per available room. The board also declared a tax-exempt interim dividend of 6 Singapore cents per share, underscoring management's confidence in the company's financial health and future outlook.