16 December 2014 – City Developments Limited (CDL) has partnered with Blackstone’s Tactical Opportunities Fund and CIMB Bank Berhad, Labuan Offshore Branch to create a unique investment platform that will invest in the cashflows of CDL’s properties in Sentosa Cove, called the Quayside Collection. Through this transaction, a total of S$1.5 billion will be raised.

The Quayside Collection, an upscale integrated development on the resort island of Sentosa, south of Singapore, comprises three adjacent properties developed by CDL:
• Hotel – The 5-star hotel W Singapore – Sentosa Cove
• Retail – Quayside Isle, a waterfront F&B and retail property
• Residential – Apartments of The Residences at W Singapore – Sentosa Cove

Announcing this today, CDL said the Profit Participating Security (PPS), as the investment instrument is called, will see the investors receive a fixed payout based on 5% interest per annum for a period of five years, in addition to a participation in the cashflows over the period that they hold the PPS.

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