Latest News
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.
CDL and MCL Land to launch Tembusu Grand at Katong – previews commence on Friday, 24 March 2023
City Developments Limited (CDL) and MCL Land will commence the preview of the highly anticipated Tembusu Grand on Friday, 24 March 2023. Sales bookings are scheduled to begin on Saturday, 8 April 2023. Situated in the charming enclaves of Tanjong Katong and East Coast, the development sits in a landmark neighbourhood that fuses heritage with modern conveniences.
CDL posts record profit of S$1.3 billion for FY 2022 – highest since inception
City Developments Limited (CDL) achieved record earnings with net profit after tax and non-controlling interest (PATMI) of S$1.3 billion for the full year ended 31 December 2022 (FY 2022), the highest ever since the Group’s inception in 1963.
CDL acquires five purpose – built student accommodation assets in the UK for £215 million – expands student accommodation portfolio to over 2,300 beds
City Developments Limited (CDL) has enlarged its United Kingdom (UK) student accommodation portfolio with the acquisition of five high-quality Purpose-Built Student Accommodation (PBSA) assets[1] for £215 million (approximately S$357 million[2]), made via two separate transactions.
CDL is the only Singapore company listed on the CDP A List for fifth consecutive year and maintained ‘AAA’ rating on MSCI ESG index since 2010
City Developments Limited (CDL) has once again been included in the 2022 CDP A List for its environmental leadership in climate change and water security initiatives. This marks the fifth consecutive year CDL has received an ‘A’ score for climate change and the fourth year with an ‘A’ score for water security. This year, CDL is also the only Singapore company on the CDP A List, and the only company in Southeast Asia and Hong Kong to remain on the CDP A List for five consecutive years.
Strong response for Copen Grand, Tengah Town’s first Executive Condominium – 465 units snapped up on launch day
Bookings for the highly anticipated Copen Grand Executive Condominium (EC) – the first EC in the upcoming future-forward Tengah Town – commenced on Saturday, 22 October 2022 for eligible buyers. On the first day of launch, 465 units (73% of the project) were sold. The average launch price was S$1,300 per square foot (psf), with an additional 3% applied to units sold under the deferred payment scheme.