NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025 43 SIGNIFICANT INVESTMENTS IN SUBSIDIARIES (CONT’D) Principal activity Principal place of business/ Country of incorporation Ownership interest 2025 2024 % % Direct/Indirect subsidiaries of the Company (cont’d) (2) Millennium & Copthorne Hotels Limited Investment holding United Kingdom 100 100 (2) MPG St Katherine 2 LP Property holding United Kingdom 99.9 99.9 (2) 125 OBS Limited Partnership Property holding United Kingdom 100 100 (2) New Bath Court Limited Property owner United Kingdom 99.9 99.9 (9) New Bath Court (OpCo) Limited Operating company United Kingdom 99.9 99.9 (9) Northgate Investments Limited Investment holding Jersey 100 100 (1) Novel Developments Pte. Ltd. Property owner and developer Singapore 100 100 (9) Paradise Investments Limited Property owner and developer Jersey 100 100 (1) Pavo Properties Pte. Ltd. Property owner and developer Singapore 60 60 (2) Phuket Square Co., Ltd. Retail and hotel business Thailand 49 (a) 49 (a) (9) Pinenorth Properties Limited Property owner and developer Jersey 100 100 (9) Rehi Normanby Pty Ltd Trustee Australia 100 100 (9) Reselton Properties Limited Property owner and developer Jersey 100 100 (1) Republic Plaza City Club (Singapore) Pte Ltd Owner and operator of clubs Singapore 100 100 (9) Reach Across International Limited Investment holding British Virgin Islands 100 100 (2) Shanghai Anting Waratah Real Estate Development Co., Ltd. Property owner People’s Republic of China 100 100 (2) Shanghai Galaxy Enterprise Management Co., Ltd. Property owner People’s Republic of China 100 100 (3) Shanghai Meidao Investment Co., Ltd. Property owner and developer People’s Republic of China 100 100 (2) Shanghai Rainbow Enterprise Management Co., Ltd. Property owner People’s Republic of China 100 100 234 | CITY DEVELOPMENTS LIMITED
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