The CEO of City Developments Ltd hits back at his dad’s allegations of a boardroom coup at the Singaporean giant, with that family feud leading today’s headline roundup. Also making news, Hong Kong’s Sun Hung Kai Properties reports rising earnings… Read More>>
CDL Chairman Accuses Son of ‘Attempted Coup’ as Sherman Kwek Remains CEO
Investors eager for Singapore’s largest non–government controlled developer to announce its 2024 financials on Wednesday received more excitement than expected when the executive chairman and chief executive officer of City Developments Ltd issued separate statements regarding an alleged struggle for… Read More>>
Singapore’s CDL Warns of Loss After China Developer Investment Swells to $1.4B
Singapore-based City Developments Ltd on Thursday issued a fresh warning that it is likely to report a loss stemming from the firm’s contentious investment in mainland Chinese developer Sincere Property Group.
In the filing with the Singapore Exchange, CDL cited… Read More>>
CDL Strikes Deal to Acquire 51% Stake in Mainland Developer for RMB 4.39B
City Developments Ltd (CDL) has found opportunity in the COVID-19 crisis to expand its real estate holdings in mainland China by acquiring a majority stake in a Chongqing-based developer for an initial investment of RMB 4.39 billion ($621 million).
The… Read More>>
Singapore’s CDL Acquires Shanghai Complex as Part of $974M Mainland Deal
Singapore-listed City Developments Ltd today announced RMB 6.7 billion ($974 million) in new investments in mainland China, including plans to take a 24 percent stake in mainland developer Sincere Property Group, and the acquisition of a Shanghai commercial asset from… Read More>>
CDL, Alibaba Take Cornerstone Stakes in $727M E-House IPO
Singaporean property developer City Developments Ltd is joining mainland tech giant Alibaba as investors taking cornerstone stakes in the initial public offering of E-House (China) Enterprise Holdings Ltd, a Shanghai-based real estate services provider with more than RMB 4.6 billion… Read More>>
CDL Names Pair of Execs to Head New Asset Management, Development Divisions
Singapore’s biggest home builder, City Developments Limited (CDL) announced a pair of new executive appointments this week as it created a pair of new business units to strengthen its commercial division and re-engineer its development process.
The owner of Republic… Read More>>
Singapore’s Hong Leong Group Buys East Coast Housing Block for $667M
The Singapore housing market is on the rebound and one of the southeast Asian financial hub’s biggest development groups has bought out the residents of a 200-unit housing block on the island city’s east coast to add to its project… Read More>>
Sherman Kwek Replacing Grant Kelley as CDL Chief Executive
Grant Kelley has stepped down as CEO of City Developments Limited (CDL), the Singapore-listed property heavyweight, and will be replaced by Sherman Kwek, the elder son of CDL chairman Kwek Leng Beng.
The family led company, which is one of… Read More>>
Singapore’s CDL Invests $10.5M for 24% of China Co-Working Operator Distrii
City Developments Ltd (CDL) has joined the China co-working race with a RMB 72 million investment ($10.5 million) in Shanghai-based Distrii, according to a recent announcement by the Singapore-based developer.
CDL’s cash buys it a 24 percent stake in Distrii,… Read More>>