Penrose

Developer for Penrose

City Developments Ltd
City Developments Limited (CDL) is a leading global real estate operating company with a network spanning 103 locations in 29 countries and regions. Listed on the Singapore Exchange, the Group is one of the largest companies by market capitalisation. Its income-stable and geographically-diverse portfolio comprises residences, offices, hotels, serviced apartments, integrated developments and shopping malls.

With a proven track record of over 55 years in real estate development, investment and management, CDL has developed over 43,000 homes and owns over 18 million square feet of lettable floor area globally. Its diversified global land bank offers 4.1 million square feet of developable gross floor area.

The Group’s London-listed subsidiary, Millennium & Copthorne Hotels plc (M&C), is one of the world’s largest hotel chains, with over 135 hotels worldwide, many in key gateway cities.

Leveraging its deep expertise in developing and managing a diversified asset base, the Group is focused on enhancing the performance of its portfolio and strengthening its recurring income streams to deliver long-term sustainable value to shareholders. The Group is also developing a fund management business and targets to achieve US$5 billion in Assets Under Management (AUM) by 2023.

Overview
The Founding of CDL
CDL began in a small, rented office in Amber Mansions on 7 September 1963, staffed by only eight employees, to acquire, develop and sell property. The Company went public in November 1963 and its shares were listed on what was known then as the Malayan Stock Exchange.

The Early Years
In 1965, CDL completed its first housing project, Fresh Breezes in Johor Bahru, and pioneered the “show flat” concept. This was followed by the launch of its first high-rise residential development in Singapore, City Towers, as well as the completion of Phase One of Clementi Park, CDL’s first full condominium concept project, in 1966.

A New Beginning
In 1972, the Hong Leong Group, under the guidance and leadership of founder, the late Mr Kwek Hong Png, acquired a controlling interest in CDL and embarked on a strategic diversification into investment properties. CDL placed its diversification strategy into effect with the acquisition of Guan Realty (Private) Limited in 1972. This newly acquired subsidiary subsequently developed City Plaza, CDL’s first mixed use Development which was completed in 1980.

Singapore Property Pioneer
With the late Mr Kwek’s aspiration and strong business acumen, CDL emerged as a major property developer in Singapore. In the 1980s, CDL launched 21 residential properties and completed 12 investment properties including City House in the heart of the Central Business District, which became CDL’s headquarters.

Hotel Acquisition
CDL made its maiden foray into the hospitality industry with the development of King’s Hotel (now Copthorne King’s Hotel Singapore). Orchid Inn (now redeveloped into a residential project – The Glyndebourne) was also bought about this time. This was followed by rapid expansion and regionalisation.

Today, CDL’s hospitality arm, Millennium & Copthorne Hotels plc (M&C) is Singapore’s largest international hotel group and one of the largest hotel owners and operators in the world.

50 Years of Distinction
With over five decades of track record, CDL has built a distinctive legacy of industry leadership and championing green buildings, fueled by our vision to conserve as we construct. We look forward to achieving new milestones as we continue to transform the eco-landscape as well as to set benchmarks in innovation and sustainable developments. And to press on for our biggest reward – a better home for everyone to live in.

HONG LEONG HOLDINGD

Hong Leong Holdings Limited (HLHL) was established in 1968 as the privately-held property development and investment arm of the Hong Leong Group. As one of the pioneers of the real estate scene in Singapore, HLHL has since emerged as a major player in the property market, making it one of the most sought-after providers of a comfortable home. To date, it manages 8 commercial projects and has developed close to 100 residential properties, including a range of mid to
high-end residential projects in some of the country’s most coveted neighbourhoods.

Looking forward, HLHL continues to seek improvement and expansion in its business while maintaining its distinct level in design, sustainability and customer service. [ more… ]

Architect for Penrose

The P&T Group is an award-winning, global design firm, providing clients with innovative, commercially successful and sustainable design solutions since its inception in 1868.

Consistently ranked in the top largest consultancies in the world, our 1600-plus architects, engineers, urban designers and interior designers operate in over 70 cities, on an excess of 10 million square metres of combined floor area, annually.

By sheer volume and a shared commitment to design excellence with each and every project, our work has, and will, continue to positively transform communities and improve lives.