Hong Leong Group Executive Chairman Mr Kwek Leng Beng was tonight accorded a Lifetime Achievement Award at the Asia Pacific Entrepreneurship Awards 2017. The prestigious accolade was in recognition of his “outstanding achievements, visionary leadership and steadfast dedication that has led to the successful growth of the Hong Leong Group for over five decades.” Organised by Enterprise Asia, a regional …
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CDL Hospitality Trusts (“CDLHT” or the “Group”), a stapled group comprising CDL Hospitality Real Estate Investment Trust (“H-REIT”), a real estate investment trust, and CDL Hospitality Business Trust (“HBT”), a business trust, has today announced the acquisition of Pullman Hotel Munich (the “Hotel”) and its office and retail components (the “Commercial Components”, and together with the Hotel, the “Property”) for …
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City Developments Limited (CDL), through its wholly-owned subsidiary CDL Properties Ltd (CDLP), has successfully launched the first green bond by a Singapore company. The two-year senior secured green bond has raised S$100 million at 1.98% fixed rate due 2019. The investors comprised mainly financial institutions and fund managers. The green bond is issued under the CDLP S$700 million secured Medium …
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Despite a challenging market, City Developments Limited (CDL) posted Earnings before Interest, Tax, Depreciation and Amortisation (EBITDA) of S$186 million for Q1 2017 (Q1 2016: S$205 million), and Profit after Tax and Minority Interests (PATMI) of S$85.5 million (Q1 2016: S$105.3 million). The lower EBITDA and PATMI compared to Q1 2016 were due to a range of factors, including the …
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City Developments Limited (CDL)’s 174-unit luxury freehold residential development, Gramercy Park, along Grange Road has achieved positive sales. To date, its 87-unit North Tower launched in Phase 1 has sold 70 units (80%). Riding on the positive sales momentum, Phase 2, comprising the 87-unit South Tower, was soft launched on 30 March 2017. Eleven of the 20 South Tower units …
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Despite many Chinese cities implementing property cooling measures, City Developments Limited’s (CDL) properties are off to a good start. The newly-launched 126 unit luxury Eling Residences and CDL’s second development in Chongqing – Huang Huayuan – stand to benefit from the continual collaborative efforts between Singapore and Chongqing city. Huang Huayuan, also in the prime Yuzhong district, is scheduled for …
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