The Company

City Developments Limited: 50 Years of Trust - Milestones

Milestones

1960s

1963 

Started as a residential property developer with only eight employees at a rented premise at Amber Mansions along Orchard Road.

CDL shares were listed on what was known as the Malayan Stock Exchange.

1965

Completed Fresh Breezes, CDL's first residential project.

1966

Completed City Towers, CDL's first high-rise residential project.

Completed Phase One of Clementi Park, CDL's first full condominium-concept project.

1969

Mr Kwek Leng Beng, Mr Chow Chiok Hock and Mr Sim Miah Kian took their positions on the CDL Board of Directors after Hong Leong Group bought into CDL.

1970s

1972 

Hong Leong Group acquired a controlling interest in CDL and embarked on a diversification policy to increase the Company's sources of income.

Acquired Guan Realty (Pte) Ltd which developed City Plaza, CDL's first mixed development.

1973

Announced maiden dividend to shareholders.

1974

Mr Kwek Hong Png, the founder and patriarch of Hong Leong Group took over the Chairmanship of CDL and Mr Kwek Leng Beng was appointed Managing Director.

1980s

1980 

Completed City Plaza, CDL's first integrated development.

Took first step into the hospitality industry with the acquisition of King's Hotel (now Copthorne King's Hotel).

1981

King's Hotel Ltd bought over S. K. Chee Pte Ltd, including assets such as shop units, office space and parking lots at the Tanglin Shopping Centre.

Acquired Singapura Developments (Pte) Ltd, a major property company with commercial properties in Katong Shopping Centre, Woh Hup Complex, Queensway Shopping Centre, the Arcade and residential land along Clementi Road and Tanah Merah Besar at Changi.

1983

City House, CDL's first flagship commercial building was completed. It remains as CDL's operational headquarters till today.

1985

CDL Hotels New Zealand Limited (now M&C New Zealand Limited) was incorporated and listed on the New Zealand Stock Exchange.

1987

Marked CDL's regional expansion with the acquisition of Grand Hyatt Taipei.

A prime site at Raffles Place was purchased and amalgamated with two adjoining sites, which gave rise to Republic Plaza, CDL's flagship commercial building.

1989

Rose to become the largest listed property developer in Singapore with a market capitalisation crossing over the $2 billion mark.

Purchased Orchid Inn Penang (now Copthorne Orchid Hotel Penang) and Manila Plaza Clarion (now The Heritage Hotel Manila) - its first acquisitions in Malaysia and Philippines respectively.

CDL Hotels International Limited was formed and listed on the Hong Kong Stock Exchange.

1990s

1992 

Acquired 72% of the public-listed Euro-National Corporation Ltd (renamed CDL Hotels New Zealand Ltd).

Signed landmark agreement with US-based Choice Hotels International for the master franchise of the choice trademark in Singapore, Malaysia, Hong Kong, Brunei, Taiwan, the Philippines, Macau and China.

Acquired The Gloucester in London, CDL's first hotel entry into Europe.

1993

Acquired QINZ Holdings, which owned and managed a 13-hotel chain in New Zealand.

1994

Maiden entry into the USA market with the purchase of Millenium Hilton and Hotel Macklowe in New York.

1995

Mr Kwek Leng Beng was appointed as Executive Chairman and Mr Kwek Leng Joo as Managing Director.

CDL Hotels International Limited and Saudi Arabia's Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud completed the acquisition of an 80% stake in The Plaza Hotel from Donald Trump.

Lot 1 Shoppers' Mall, Choa Chu Kang's first major shopping complex, was launched.

Acquired the Copthorne Hotel chain from Aer Lingus and added hotels in Britain, Germany and France. Also became New Zealand's largest hotel owner with 21 hotels.

Launched a new global hotel brand, Millennium Hotels & Resorts.

1996

Millennium & Copthorne Hotels plc (M&C), a subsidiary of CDL Hotels International Limited, was listed on the London Stock Exchange. This marks the first Singapore-controlled company to be listed on the London bourse.

Launched Le Grove, CDL's first serviced apartment development, along Orange Grove Road.

1997

Official opening of Tower Club, a private business club over the 62nd to 64th floors of Republic Plaza.

Executive Chairman Mr Kwek Leng Beng was named Businessman of the Year 1996 at the prestigious annual Singapore Business Awards.

First expansion into Japan with the acquisition of Umeda Mitsui Building (now known as Umeda Pacific Building), a prime office building in Osaka.

Clinched its first FIABCI Best of World Real Estate Award as Republic Plaza was picked Overall Winner.

1998

Official opening of Republic Plaza, CDL's newest flagship building by then Prime Minister Goh Chok Tong. The building is designed by world renowned architect Dr Kisho Kurokawa.

Voted one of Asia's Best Managed Companies in an Asiamoney poll.

Launched CDL's first Executive Condominium, The Florida, to much success.

Copthorne makes its debut in Asia with the rebranding of four hotels in Singapore and Malaysia.

Conferred the "Highest Growth in Market Capitalisation in 25 Years" commendation by Stock Exchange of Singapore.

1999

Purchased the five-star Seoul Hilton (now Millennium Seoul Hilton) for US$213.5 million which marked the largest international hotel deal in Asia back then.

M&C now ranks amongst Britain's top 100 'Most Admired Companies'.

With the completion of the acquisition of Regal Hotels International, M&C became the world's top 15 hotel owners and operators with a total of 117 hotels in 13 countries.

2000s

2000 

Unveiled a restructuring plan to acquire a controlling stake of 52.4% in M&C from its subsidiary, CDL Hotels International Limited (CHIL). CHIL, renamed City e-Solutions Limited in August 2000, was dedicated towards providing management services and technology solutions for the hospitality industry, as well as making investments in the global real estate sector.

Launched the first Singapore i-Home, The Equatorial, which was designed to be intelligent, interactive and Internet-ready.

2001

M&C expanded into the Middle East with management contracts secured in the United Arab Emirates.

M&C and Maritim Hotels entered into an agreement to form a global strategic marketing alliance. Their combined portfolio brought together 128 hotels with close to 35,000 rooms in Europe, USA and Asia.

Opened CDL Customer Centre at City House, the first integrated customer and call centre in the Singapore property industry.

2002

Launched Savannah Condo-Park, Singapore's First Eco-Condo.

First private developer to receive the Building and Construction Authority Quality Mark Award in 2002 which recognises high workmanship standards for all units in a residential project.

2003

The Pier at Robertson, a CDL's freehold 201-unit riverfront development with a "Home Office" concept was launched.

Official opening of Waterfront Conference Centre, located next to CDL's flagship hotel, Grand Copthorne Waterfront Hotel Singapore. Then, it was Singapore's third largest convention centre.

City Serviced Offices, a wholly-owned subsidiary of CDL, commenced operations as a one-stop serviced office and real estate solutions provider at Republic Plaza.

2004

Launched Tower One of The Sail @ Marina Bay - Singapore's Tallest Residences. Tower Two was launched in Oct 2005 and almost sold-out within days of its launch.

2005

Singapore's top private residential property seller in 2005 - projects contributing to CDL's sales include The Sail @ Marina Bay Tower 2 and City Square Residences which were amongst the top five best sellers for the year.

2006

Launched Singapore's first branded residences, the luxurious St. Regis Residences, Singapore.

M&C announced the initial public offering of CDL Hospitality Trusts (CDLHT). CDLHT was the first hotel REIT in Singapore and is a stapled group comprising CDL Hospitality Real Estate Investment Trust (H-REIT) and CDL Hospitality Business Trust.

M&C officially opened the five-star Millennium Hongqiao Hotel, Shanghai, its first hotel in China.

2007

Part of consortium awarded the landmark South Beach site. The iconic green development was designed by world-renowned firm Foster + Partners and will comprise hotel, residential, office and retail space.

Expanded its global footprint with a joint venture involving among other things, a hotel and conference and business facilities in Russia.

The St. Regis Singapore made headlines as the first international luxury hotel to open in Singapore over the last decade.

2008

Launched its first dedicated Sustainability Report, the first Singapore report to be successfully checked by the Global Reporting Initiative.

Created another industry milestone with the announcement to issue Singapore's first Sukuk-ljarah unsecured financing arrangement, under a proposed S$1 billion Islamic Multi-Currency Medium Term Notes Programme to tap new markets and investors.

2009

Named Singapore's first Platinum winner of the Built Environment Leadership Awards by BCA.

11 Tampines Concourse was unveiled as the first CarbonNeutral� development in Singapore and Asia Pacific.

City Square Mall, Singapore's first eco-mall was soft-launched.

2010s

2010 

The Residences at W Singapore - Sentosa Cove, CDL's second branded residences, a collection of 228 private luxury residences at the exclusive waterfront residential enclave of Sentosa Cove was launched.

CDL China Limited, a wholly-owned subsidiary of CDL, made its first acquisition, a development site in Chongqing, China, in December.

1st Company in Singapore to achieve International AA1000AS (2008) Assurance Standard for Sustainability Reporting.

2011

Recorded its highest pre-tax profit surpassing the $1 billion mark for the first time for the financial year 2010. CDL's pre-tax profit also crossed the $1 billion mark for the financial year 2011.

The first private developer to be conferred the highest honour of the inaugural Green Mark Platinum Champion Award at the BCA Awards 2011.

Selected as an index component on the Dow Jones Sustainability Indexes (World and Asia Pacific). The first and only Singapore company to be listed on three of the world's sustainability benchmarks: FTSE4Good Index Series since 2002, Global 100 Most Sustainable Corporations in the World since 2010 and Dow Jones Sustainability Indexes since 2011.

1st Company in Singapore to address ISO 26000:2010 Guidelines in its Sustainability Report.

2012

Listed on the Global 100 Most Sustainable Corporations in the World for three consecutive years since 2010.

Emerged as the most honoured private developer at the BCA Awards 2012 and has to date 62 BCA Green Mark developments including 21 Green Mark Platinum projects (the highest status for green buildings in Singapore), the most for a private developer on both counts.

HAUS@SERANGOON GARDEN is 1st landed residential estate in Singapore to achieve the BCA Green Mark Platinum award for incorporating green designs and technologies into every house.

First Singapore property developer to publish a Level A+ Sustainability Report checked by the Global Reporting Initiative (GRI) using the GRI G3.1 guidelines and the Construction and Real Estate Sector Supplement.

Named the Asia Pacific Green Builder of the Year 2012 by global research and growth consultancy, Frost & Sullivan.

At the 13th Securities Investors Association Singapore (SIAS) Investors' Choice Awards, CDL Executive Chairman Mr Kwek Leng Beng and CDL Managing Director Mr Kwek Leng Joo were named joint winners as "Partners in the Office of the CEO" in the Brendan Wood International - SIAS TopGun CEO Designation Award.

Emerged victorious in the Exceptional CSR Practice category at The British Chamber of Commerce's 13th Annual Business Awards.

2013

D'Nest, CDL's 912-unit condominium in Pasir Ris Grove entered the Singapore Book of Records for achieving the national record for the "Largest Solar Panels In A Condominium.

First developer to introduce a specially developed Home Energy Management System (HEMS) iPad application for Echelon - a 508-unit condominium development. Homeowners can manage and track power usage at home to help save energy bills in real time.

First developer to receive the prestigious Quality Excellence Award - Quality Champion (Platinum) and Construction Productivity Award - Advocates (Platinum) by BCA in 2013.

First company outside Europe to win the International Dilmun Environmental Award accorded by the Royal Society for the Prevention of Accidents (RoSPA) in 2013.

Collaborated with National Library Board (NLB) to launch My Tree House - World's 1st Green Library for kids in 2013.

Collaborated with National Parks Board to develop The CDL Green Gallery @ Singapore Botanic Gardens (SBG) Heritage Museum. The Gallery has the distinction of becoming Singapore's 1st zero energy Green Gallery. It incorporated, for the 1st time in Singapore, two eco-innovative technologies - a fully-complete prefabricated modular system for quick construction, and the use of Hempcrete (largely made from the hemp plant), a highly durable biomaterial. The Gallery opened in end November 2013.

2014

CDL once again made the list in the Corporate Knights Global 100 Most Sustainable Corporations in the World. It is the only Singapore company to be listed on this global benchmark for the fifth consecutive year, and its ranking has also climbed to 39th place this year from 52nd position in 2013. Companies named to the Global 100 Index are the top overall sustainability performers in their respective sector.

The only developer to receive the Quality Champion (Platinum) accolade from the Building and Construction Authority (BCA) for two consecutive years. In addition to this pinnacle honour, CDL also received another 28 project awards at the BCA Awards 2014.

Placed Singapore on the global map for sustainability when the stunning 24-storey 2,289 square metre vertical garden at Tree House condominium entered the Guinness World Records for Largest Vertical Garden.

Selected as an index component in the Dow Jones Sustainability Indexes (Worldwide and in Asia Pacific).

Made its first landmark land acquisition for real estate residential development in Japan when it jointly acquired an expansive 16,815 square metre parcel of land strategically located in the prestigious residential enclave of the Shirokane area in Tokyo's Minato ward.

Continued to lead the sustainability drive as the Top Property Developer in Asia and Top Singapore Corporation in the inaugural Channel NewsAsia Sustainability Ranking. CDL was also ranked second among the top 100 sustainable companies in Asia.

Recognised as a business leader in sustainability at the inaugural World Green Building Council (WorldGBC's) Asia Pacific Regional Network Leadership Awards in Green Building.

Became the first developer in Asia to introduce the use of advanced construction technology, Prefabricated Prefinished Volumetric Construction (PPVC), in the development of a large-scale residential development - an Executive Condominium (EC) at Canberra Drive. By far, this is likely the largest application of PPVC in a large-scale residential project in the world and is expected to revolutionise construction productivity (raising productivity by more than 40%) and saving some 55,000 man days of work (compared to using conventional construction methods).

2015

CDL is the only Singapore company to be listed on global benchmark – Corporate Knights Global 100 Most Sustainable Corporations in the World for the sixth consecutive year, with a jump in ranking to 34th place this year from 39th in 2014.

The most-awarded developer and biggest winner of the inaugural Green Mark Pearl Award at the Building and Construction Authority (BCA) Awards 2015. Also the only developer to win top honours Quality Excellence Award – Quality Champion (Platinum) and for three consecutive years.

CDL's Tree House condominium scored yet another shining accolade as the World Gold Winner, the only World Gold Winner from Singapore, of the FIABCI World Prix d'Excellence Awards 2015 in the Sustainable Development Category.

Entered into landmark agreement with Alpha Investment Partners Limited in S$1.1 billion Singapore office venture via a new Profit Participation Securities (PPS) transaction.

Announced re-entry into the Australian residential sector with investment in A$275 million residential development in Brisbane, Australia.

Selected once again as an index component in the Dow Jones Sustainability Indices (Worldwide and in Asia Pacific).

2016

CDL ranked top real estate company and top 10 in Global 100 Most Sustainable Corporations in the World. With a record ranking of 10th in 2016, up from 34th in 2015, CDL is also the first and only Singapore company listed on the ranking for seven consecutive years.

CDL partnered the National University of Singapore (NUS) to develop novel technologies for smart, green living with S$2.25 million gift – to enable the setting up of two first-of-its-kind laboratories dedicated to the study of smart building technologies for indoor and outdoor environments.

Continues to push forward with more robust sustainability performance tracking and disclosure, shared in its 2016 Integrated Sustainability Report titled 'Integrating our Strengths, Creating Future Value'.

CDL is the first property developer in Singapore to achieve the globally-recognised ISO 14064-1 certification in Greenhouse Gas emissions reporting.