City Developments Limited(CDL) started in a small and rented office at Amber Mansion 7th Sep 1963 with low staffing. It started with the aim of acquiring, developing and selling the property. However, the Company went to the public domain in Nov 1963, its shares listed in that time, the Malayan Stock Exchange. CDL completed their first housing project in 1965, Fresh Breezes located in Johor Bahru. After this project, the company launched its first high-class residential building in Singapore, the City Towers. They also completed the Clementi Park Phase One which was the first CDL’s first full condo project.
City Developments Limited Developer for Piermont Grand EC Punggol
In 1972, under the leadership and guidance of Mr. Kwek Leong, the Hong Leong Group took control of City Developments Limited and fully embarked on diversification of the investment properties. CDL diversification led to the acquiring of Guan Realty Limited in the year 1972. The newly acquired company developed the City Plaza which was CDL’s first multipurpose development that was completed by 1980. The latest development will be Piermont Grand Punggol EC and it is the latest EC which is highly sought after by Punggol Residents.
The high demand for Piermont Grand is driven by the fact that similar executive condos which are found in Singapore’s North-East area are totally sold out. The location of Piermont Grand in District 19 near Punggol Sumang Walk also gives it an upper hand amongst competitors. This condo has a total of 820 residential units, with multiple stories as well as the number of blocks.
Leadership of CDL Real Estate Developer
With the leadership of late Mr. Kwek’s aspiration as well as strong business acumen, the City Developments Limited rose as the main property developer throughout Singapore. By the year 1980s, the company launched its 21 residential properties as well as completed 12 investment projects including City House located at the Central Business District. This became the City Developments Limited headquarters.
CDL made its first step into the hotel industry by developing of King’s Hotel, known as Copthorne King’s Hotel. Also, the Orchid Inn which has been developed to a residential project. The made other hotel expansions regionally and internationally as well. Currently, CDL’s hospitality department has grown to international recognition being the largest in Singapore. Millennium & Copthorne Hotels manages and controls all group hotels worldwide.
City Developments Limited Real Estate Awards
For over 50 years, CDL has promoted the form of everyday lives, created spaces for working, living, and playing. Beyond the company architectural icons, City Developments Limited has been engineering the cultural landscape by arts initiatives like CDL Singapore’s Sculpture Awards.
City Developments Limited extensive worldwide network has more than 500 branches and associate companies in 103 places, in 29 countries, with 7 CDL companies listed on stock exchanges in London, Singapore, Philippines, and New Zealand. City Developments Limited owns and manages a very strong portfolio of investment and residential properties, hotels, across Australia, Asia, Middle East, North America, and Europe.
City Developments Limited has built a strong legacy of industrial leadership and the championing green buildings, which is driven by the vision to conserve while constructing. The company looks forward to transforming the landscape and setting a benchmark in sustainable developments.