City Developments 

“Market Cap $7.36 B As of May 2014

At a Glance

  • Industry: Real Estate
  • Founded: 1963
  • Country: Singapore
  • CEO: Grant Kelley
  • Website: www.cdl.com.sg
  • Employees: 14,017
  • Sales: $2.53 B
  • Headquarters: Singapore

Forbes Lists

#1416 Global 2000

  • #1083 in Profit
  • #1447 in Assets
  • #1415 in Market value

City Developments Ltd. is engaged in the property development, ownership, and investment holding. It operates through the following segments: Property Development, Hotel Operations, Rental Properties, and Other. The Property Development segment develops and purchases properties for sale. The Hotel Operations segment owns and manages hotels. The Rental Properties segment develops and purchases investmentproperties for sale. The Others segment comprises club operator and owner, investment in shares, property management, project management and consultancy services and provider of information technology and procurement services. The company was founded on September 1, 1963 and is headquartered in Singapore.

“Our Heritage

The Founding of CDL

CDL began in a small, rented office in Amber Mansions on 7 September 1963, staffed by only eight employees, to acquire, develop and sell property. The Company went public in November 1963 and its shares were listed on what was known then as the Malayan Stock Exchange.

The Early Years 

In 1965, CDL completed its first housing project, Fresh Breezes in Johor Bahru, and pioneered the “show flat” concept. This was followed by the launch of its first high-rise residential development in Singapore, City Towers, as well as the completion of Phase One of Clementi Park, CDL’s first full condominium concept project, in 1966.

A New Beginning

In 1972, the Hong Leong Group, under the guidance and leadership of founder, the late Mr Kwek Hong Png, acquired a controlling interest in CDL and embarked on a strategic diversification into investment properties. CDL placed its diversification strategy into effect with the acquisition of Guan Realty (Private) Limited in 1972. This newly acquired subsidiary subsequently developed City Plaza, CDL’s first mixed use Development which was completed in 1980.

Singapore Property Pioneer

With the late Mr Kwek’s aspiration and strong business acumen, CDL emerged as a major property developer in Singapore. In the 1980s, CDL launched 21 residential properties and completed 12 investment properties including City House in the heart of the Central Business District, which became CDL’s headquarters.

Hotel Acquisition

CDL made its maiden foray into the hospitality industry with the development of King’s Hotel (now Copthorne King’s Hotel Singapore). Orchid Inn (now redeveloped into a residential project – The Glyndebourne) was also bought about this time. This was followed by rapid expansion and regionalisation.Today, CDL’s hospitality arm, Millennium & Copthorne Hotels plc (M&C) is Singapore’s largest international hotel group and one of the largest hotel owners and operators in the world.

50 Years of Distinction

With over five decades of track record, CDL has built a distinctive legacy of industry leadership and championing green buildings, fueled by our vision to conserve as we construct. We look forward to achieving new milestones as we continue to transform the eco-landscape as well as to set benchmarks in innovation and sustainable developments. And to press on for our biggest reward – a better home for everyone to live in.”


*Information from Forbes.com and Cdl.com.sg

**Video published on YouTube by “globalinitiativestv