Latest News
E-application to open for Lumina Grand – the first Executive Condominium launch in 2024
City Developments Limited is launching Lumina Grand, Singapore’s first Executive Condominium (EC) project for 2024. Located in the heart of the tranquil Bukit Batok West neighbourhood, the 512-unit luxury EC is within close proximity to the upcoming Tengah Town, Singapore’s first smart and sustainable precinct. The development comprises ten 12 to 13-storey residential blocks with a site area of around 179,000 square feet (sq ft).
CDL secures OCBC 1.5°C loan – Singapore’s first net zero-aligned loan for corporates to drive transition to a low-carbon economy
City Developments Limited marks a new sustainable financing milestone as the first corporation to obtain the OCBC 1.5°C loan, with interest rate incentives pegged to annual decarbonisation performance targets. The three-year £200 million (approximately S$338.2 million1) sustainability-linked revolving credit facility (RCF) will be utilised for refinancing, general corporate funding and working capital purposes.
CDL expands its UK living sector portfolio with the acquisition of 1NQ, a forward-funding PRS project in Manchester for £75.6 million
City Developments Limited has expanded its United Kingdom Private Rented Sector portfolio with the acquisition of 1NQ, a 261-unit freehold project in Manchester for £75.6 million (approximately S$125.7 million). CDL will forward-fund the PRS project, which will commence construction this month.
CDL invests in a Tokyo residential rental portfolio comprising 25 freehold assets with 836 units for JPY 35 billion – marks its largest private rented sector transaction in Japan
City Developments Limited has enlarged its Private Rented Sector portfolio in Japan by investing in 25 high-quality freehold residential assets for JPY 35 billion (approximately S$321.9 million1). These properties comprise a total of 836 units (including four retail units) and mark CDL’s largest PRS transaction in Japan. The interests in the properties were purchased from affiliates of BGO, a leading global real estate investment manager.
CDL celebrates 60 Diamond Years
City Developments Limited marked its 60th Anniversary with a Diamond Jubilee Celebration this evening. Held at Orchard Hotel Singapore, the event was graced by Guest-of-Honour Deputy Prime Minister (DPM) and Minister for Finance Mr Lawrence Wong, and attended by 600 guests, including government officials, ambassadors, foreign dignitaries, business partners, industry representatives, as well as CDL’s directors, management and staff.
CDL expands Japan hotel portfolio with acquisition of Bespoke Hotel Osaka Shinsaibashi
City Developments Limited (CDL), through its indirect wholly-owned subsidiary, M&C Sakura TMK, has acquired the Bespoke Hotel Osaka Shinsaibashi for JPY 8.5 billion (approximately S$78.5 million) or JPY 33.2 million (approximately S$307,000) per key.
CDL reports 84% increase in revenue to S$2.7 billion and PATMI of S$66.5 million for 1H 2023
For the half-year ended 30 June 2023 (1H 2023), City Developments Limited (CDL) achieved strong revenue growth of 83.6% to S$2.7 billion (1H 2022: S$1.5 billion), primarily driven by the property development segment.
More than 100 units at The Myst picked up by local homebuyers on launch weekend
City Developments Limited (CDL) commenced sales for The Myst on Saturday, 8 July 2023. As at 6.00 pm on Sunday, 9 July 2023, 110 units (27% of the project) have been sold at an average selling price (ASP) of S$2,057 per square foot (psf).
CDL acquires Nine Tree Premier Hotel Myeongdong II – reflects the Group’s continued investment in Korea
City Developments Limited (CDL), through its indirect wholly-owned subsidiary, CDL Hotels (Korea) Limited, has acquired the Nine Tree Premier Hotel Myeongdong II in Seoul from Shinhan Nine Tree Real Estate Investment Trust for KRW 140 billion (approximately S$143.9 million) or KRW 343 million (approximately S$353,000) per key.