City Developments Limited (CDL) is one of the largest real estate developers in Singapore, with five million square feet of developed property and 4.2 million acres of land under management. It is one of the leading players in Singapore’s real estate market, with plans to expand its portfolio to eight million gross square feet. CDL’s recent sales of strata lots complement its strategy of selling assets at a premium. This article examines the company’s key assets and strategies. Their latest development is Tengah EC right at the heart of the city.
City Developments Limited is one of the leading real estate developers in Singapore. Its portfolio includes offices, retail malls, serviced apartments, hotels, and residential properties. Its subsidiaries include hotel and club operators, and they also provide consulting services. This company has been active in Singapore for over 55 years. Its headquarters is in the heart of the city. It has offices and properties throughout Singapore and internationally. To learn more, visit citydevelopments.com/about/company profile.
In the early 1970s, CDL merged with the Hong Leong Group. In the late 1970s, CDL embarked on strategic diversification into investment properties. It also acquired Guan Realty (Private) Limited, a company that developed the first mixed-use development in Singapore. CDL also completed City House, a commercial and residential tower that served as the company’s headquarters.
With new launches in Singapore, it is more beneficial than ever to invest in condos, especially new launches by CDL Real Estate Developers. Unlike older launches, you can benefit from no depreciation of assets. This means that you can enjoy higher profits when you sell your unit. Here are some reasons why you should consider buying a condo in Piermont Grand. In addition, the price is unbeatable.
Location is important, and this new EC by CDL is located near Punggol MRT and two LRT stations. In addition, it has scenic views. This condo is being developed in collaboration with TID Pte Ltd, a joint venture of Hong Leong Holdings and Japan’s Mitsui Fudosan. The price tag of Piermont Grand EC is $2 billion, making it an affordable option for young couples and families alike.
The developer of Coco Palms is City Developments Limited, which has been in the property business for more than 50 years. They have developed more than 36,000 luxury homes and own 7.2 million square feet of land in Singapore. This project consists of a variety of unit sizes and facilities. It is located in a prime location, within easy walking distance of the Pasir Ris MRT and the popular shopping mall. It is also near TPE, making it an ideal location for a family or an executive.
At the end of May 2016, the developer of Coco Palms had completed 772 transacted sales. Of these, 772 of them were units of one or two bedrooms. However, this number dipped drastically in 2015 and 2016, with only eleven sales taking place in each of those two years. This is likely due to a slowdown in sales since many small units were sold. The median price for a unit at Coco Palms ranges from $1,050 per square foot for a four-bed unit to $849 psf for a penthouse.
CDL Real Estate Developer is expanding its hotel operations. It already owns 21 tourist class hotels in New Zealand, and has plans to expand into China. In addition, it is exploring the feasibility of establishing a central reservations system. Despite the risk of taking on the burden of hotel operations, CDL is not giving up. Here’s a closer look at how this company is progressing. Here are three things to watch out for:
The real estate developer is already reviewing its global footprint and assessing three offers. It is also hoping to realize gains from asset sales. In February, M&C sold Millennium Cincinnati for S$49 million, earning $26.4 million. The company hopes to achieve similar results with its remaining hotel operations. Meanwhile, M&C plans to sell the remaining hotel assets and reduce staff. The company is also evaluating other alternatives to M&C.
A recent report reveals that CDL is ahead of the curve when it comes to its climate change strategy. In response to the increasing concerns around climate change, CDL has started to align its own science-based GHG emissions reduction targets with SBTi’s. The company is also in the process of reviewing whether to adopt an internal carbon price, which would help it to stay ahead of Singapore’s carbon tax regulation, expected to come in 2019.
The company has announced its first official targets to reduce GHG emissions by 2030, and has committed to set goals to continue this commitment. These targets will be based on the company’s existing carbon footprint, as well as the intensity of goods and services purchased. The target sets a baseline for the first half of this year and ends in 2030, when residual emissions will be offset to bring the company to net-zero emissions. The targets are based on the World Green Building Council’s “Net-Zero Buildings Commitment”.
To combat climate change, the real estate industry must transition to a net-zero energy and carbon emissions footprint. While the Paris Agreement aims to keep global warming to 1.5 degrees Celsius, this goal is not enough. In fact, it must be maintained to stabilize and halt the intensity of climate change. Buildings are responsible for 39% of all energy-related carbon emissions, making net-zero development an imperative for the real estate industry.
The CDL Real Estate Developers (CDL) strategy to achieve net zero by 2030 outlines its commitment to carbon-neutral building development and management. This is the first real estate conglomerate in Southeast Asia to sign the WorldGBC’s Net Zero Carbon Buildings Commitment. The company committed to reach net zero operational carbon in all of its wholly owned assets by 2030 and offset its remaining emissions via a carbon offset program.