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Kwek Leng Beng

Singapore’s CDL Selling Hilton Millennium Seoul Hotel to IGIS for $930M

2021/12/13 by Beatrice Laforga Leave a Comment

City Developments Ltd (CDL) is set to sell the Hilton Millennium Hotel in Seoul, along with an adjoining site, to local fund manager IGIS Asset Management for KRW 1.1 trillion ($930 million) as the Singapore-listed developer continues to divest loss-making… Read More>>

Kwek Leng Beng

Singapore’s CDL Predicts 2020 Loss, Further Hotel Woes Next Year

2020/11/30 by Christopher Caillavet 1 Comment

In full-year guidance released Monday, City Developments Ltd said it expected the effects of the COVID-19 pandemic to continue into 2021 as the Singaporean developer predicted a loss for 2020.

CDL foresees its global hospitality segment, led by wholly owned… Read More>>

Lee-Richards-485x600

CDL Says It Will Offload Hotels After Hospitality Business Lost $155M in 2020 1H

2020/11/19 by Christopher Caillavet Leave a Comment

Millennium & Copthorne Hotels Ltd has offered a glimpse of its recovery strategy after a 12-month period that witnessed an ill-timed privatisation, a sector-wrecking pandemic and boardroom upheaval.

After the hospitality division of Singapore-listed City Developments Ltd (CDL) reported a… Read More>>

One Horizon Center

Hines JV Wins $346M Loan for India Office Project and More Asia Real Estate Headlines

2020/08/20 by Michael Cole Leave a Comment

Leading today’s real estate news, US developer Hines has won a loan for an office project in northern India, while a Korean REIT buys up 20 floors of a central Seoul high rise.

Also in the headlines, Singapore’s Millennium &… Read More>>

Kwek Leng Beng

CDL Steps Up SG Redevelopment Projects as Profit Falls 99%

2020/08/13 by Jonathan Burgos Leave a Comment

Real estate giant City Developments Ltd (CDL) is stepping up plans to redevelop its older commercial buildings in Singapore’s central business district after the COVID-19 pandemic dragged the group’s net profit in the first six months of the year.

CDL… Read More>>

st regis sg

M&C Hotels CEO Quits After Four Months as Pandemic Drags Firm Into the Red

2020/07/24 by Jonathan Burgos Leave a Comment

The sudden departure of Millennium & Copthorne Hotels CEO Clarence Tan, after helming the hospitality arm of Singapore-based real estate giant City Developments Limited for just four months, puts the spotlight on the challenging environment for hoteliers amid the COVID-19… Read More>>

Raymond Kwok Sun Hung Kai

Sun Hung Kai Says Hong Kong Hotels Now Half-Empty and More Asia Real Estate Headlines

2019/09/13 by Michael Cole Leave a Comment

News of the impact of Hong Kong’s economic slump on even its biggest players leads today’s headline roundup as the city’s biggest developer reveals that some of its hotels are now only half-occupied while its shopping centres suffer a lack… Read More>>

sherman kwek CDL

CDL Makes £776M Buyout Offer for Millennium & Copthorne Hotels

2019/06/09 by James Hatton Leave a Comment

City Developments Limited has launched a £776 million ($989 million) takeover bid for London-listed Millennium and Copthorne Hotels (M&C) that values the Airbnb-challenged hotel chain at £2.2 billion, according to an announcement by the publicly listed flagship of the Hong… Read More>>

Asia Real Estate People in the News 2018-04-16

2018/04/16 by Greg Isaacson Leave a Comment

Leading today’s roundup of people moves, Singapore developer CDL’s Millennium & Copthorne Hotels has named a veteran hospitality executive as its new group CEO. Also among the familiar faces showing up in new places this week is a retail real estate… Read More>>

Tae-young Yang Tera Funding

Korean Proptech Startup Raises $9.3M and More Asia Real Estate Headlines

2018/01/28 by Greg Isaacson Leave a Comment

Proptech leads today’s news roundup, with a Korean real estate crowdfunding startup raising a pile of money in a record-breaking series A investment round. Also in the headlines, China Vanke and ZTE are set to move ahead on a Shenzhen… Read More>>

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