SINGAPORE'S property developer CDL on Thursday reported that its second quarter profit was down 15 per cent to $165.2 million on the back of a subdued property market and absence of one-off tax credit it received last year.

Revenue for the quarter was slightly up by 0.7 per cent to $780.8 million.

The developer plans to launch Arte at Thomson, Quayside in Sentosa and Phase 2 of its Pasir Ris development Livia in the second half of the year.