City Developments Limited: The Company - Our Heritage
years of the Company.
CDL listed on Malayan Stock Exchange in
• 1st residential
project, Fresh Breezes, was built in Johor Bahru, Malaysia in
• 1st full
condominium concept project in Singapore, Clementi Park, was built in
- 1st high-rise residential development, City Towers, was
completed in 1966.
- Expanded from our residential portfolio to incorporate
- 1st mixed development, City Plaza, was built
- A decade marked by aggressive expansion and back-to-back
- Diversified our existing portfolio of residential and and
commercial properties to include hotels and hotel management.
hotel acquisition, King’s Hotel (now known as Copthorne King’s),
took place in the 1980s, followed by five more hotels in the region.
CDL Hotels was listed on the Hong Kong Stock Exchange in 1989.
- Rapid expansion of the Group’s global
- Millennium and Copthorne Hotels plc (M&C), a subsidiary
of CDL Hotels International Limited, was listed in the London Stock Exchange in
1996 – the 1st Singapore controlled Company to be listed on the London
- Republic Plaza, CDL’s flagship property, was the 1st
Singapore development conferred the FIABCI Prix d’Excellence Overall
Winner in 1997.
- Gaining captainship and achieving sustainable development
within the industry.
- Achieved numerous first-of-its-kind developments
in Singapore: Savannah CondoPark (1st Eco-Condo in 2002), The Sail (tallest
residences in 2004), St. Regis Singapore (1st branded residence in 2006) &
City Square Mall, 1st Eco-mall which opened in 2009).
- M&C opened
its 1st hotel in China, the Millennium Hongqiao Hotel, in 2006.
M&C announced its IPO of CDL Hospitality Trusts in 2006, the 1st hotel REIT
- Profit before tax surpassed S$1 billion mark in
- Established CDL China Limited in 2010.
- 1st Singapore
company to be listed on all three of the world’s top sustainability
benchmarks – the FTSE4 Good Index Series, the Global 100 Most Sustainable
Corporations in the World and the Dow Jones Sustainability Indexes.
Continue to strive for a balanced Triple Bottom Line, creating value for our
stakeholders, the community and the environment at large.
The Founding of
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 house" concept. Subsequently,
CDL launched its first condominium in Singapore, Clementi Park. This was
followed by the launch of its first high-rise residential development in
Singapore, City Towers, which was completed 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 commercial and
industrial developments, launching its first residential cum shopping
development, City Plaza. CDL then acquired more investment and development
properties such as Tanglin Shopping Centre, Katong Shopping Centre, Woh Hup
Complex (now known as Golden Mile Complex), Queensway Shopping Centre and The
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.
In 1983, it completed the construction of City House in the heart of the Central
Business District, which became CDL's headquarters.
CDL's foray into the hotel business began with the
acquisition of King's Hotel and soon after, Orchid Inn, now known as Copthorne
King's Hotel Singapore and Copthorne Orchid Hotel Singapore respectively. This
was followed by rapid expansion and regionalisation.
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
With 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. As CDL celebrates its 50th
anniversary this year, 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.