EXCEPTIONAL PERFORMANCE
2005 has been an outstanding year for CDL. We have led the industry with various iconic signature developments, impressive sales figures and multiple awards and accolades. Indeed, CDL demonstrates that a socially responsible business philosophy can be a winning formula that benefits stakeholders.

VISIONARY LEADERSHIP
Demand for CDL homes in 2005 was tremendous. About 2,100 homes were sold,
translating into 23% of the private residential market share in Singapore. Contributing to this is the landmark development, The Sail @ Marina Bay. In October, prospective buyers of the 1,111-unit luxury development waited outside the show suites the night before the soft-launch of Tower 2 to ensure they would not miss the golden opportunity of owning a part of this icon. Within days, The Sail @ Marina Bay Tower 2 was almost sold out. The buying frenzy garnered extensive media attention both locally and abroad and was a testament of its premium six-star quality, international stature and good value. Backed by the foresight to envisage Marina Bay as the key to the new downtown, the management decided to adopt a bold and stunning design for this strategically-located condominium. With the development of the proposed Business Financial District and Integrated Resort at Marina Bay, The Sail @ Marina Bay promises to be one of Singapore’s most prime real estates.


City Square Residences
City Square Mall
The Sail @ Marina Bay


Another mega development launched was the freehold 910-unit City Square Residences which sits on the historic New World Amusement Park site at the junction of Serangoon Road and Kitchener Road. Having met with overwhelming response when launched in April, 800 units were sold. Residents of this integrated development will enjoy over 700,000 sq. feet of exciting shops, restaurants, hypermarket and even a Cineplex at City Square Mall which will be developed on the adjacent site and a large public park. These projects are set to
transform the landscape of the vicinity into a vibrant urban hub.

Parc Emily, a joint venture development with TID Pte. Ltd., was also successfully launched in March. The premium 295-unit development is located in the quiet exclusive enclave of Mount Emily Park and 89% has been sold.


INNOVATIVE TECHNOLOGIES, SUSTAINABLE SOLUTIONS
By harnessing state-of-the-art technology, innovation and uncompromised quality, CDL has always been at the forefront of developing homes with revolutionary designs and features to satisfy and even surpass the lifestyle expectations of our buyers.

Honoured with a plethora of awards and accolades, CDL has shown that clever designs utilising innovative technology and carefully executed with developmental sustainability in mind produces excellent projects that are financially viable.

At the 2005 Building and Construction Authority (BCA) Awards, CDL bagged the most number of awards – 14 of the 46 awards for Construction Excellence, Best Buildable Design and the Green Mark Award. Of the 14 awards, CDL received five Green Mark Awards (Gold) in recognition of developing environmentally-friendly and operationally efficient buildings.

At the BCA Construction Quality Assessment System (CONQUAS) review, both Savannah CondoPark and Monterey Park topped the list with the highest scores achieved to-date – 94.1 and 92.3 respectively. CONQUAS is the national standard for construction quality and CDL is pleased to report that six CDL projects dominate the top 13 positions.

Monterey Park was also conferred the Bronze Award (Implementation Projects, Residential Category) by the Landscape Industry Association (Singapore).

Changi Rise and Goldenhill Park Condominium were both placed in runner-up positions at the 2005 Excellence in Design Award (Multi-Use Residential – Apartment/Condominium category) by the Environmental Design + Construction Magazine in USA. This reflects and recognises CDL’s firm commitment to green and sustainable design.

 
 
Savannah CondoPark
The Singapore Institute of Architects and the Handicaps Welfare Association conferred a Community Friendly Buildings award on three of our properties, namely, Savannah CondoPark (Silver), Goldenhill Park Condominium (Bronze) and Goldenhill Villas (Honourable Mention). These properties have incorporated facilities for the physically challenged and the elderly, thereby providing greater accessibility and integration with the community and its surroundings.

Accorded by the Ministry of Manpower, The Esparis received two awards at the Occupational Health Best Practices Award 2005 – the Excellence Award for Noise Control and Innovation Award for Noise Control. Monterey Park also received the Excellence Award for Noise Control.

These honours illustrate the continued success of CDL’s dedication and commitment towards building sustainable quality developments, mindful of the impact our operations have on the environment. They are a reflection of achievements made in line with CDL’s Environment, Health and Safety Policy.


STRENGTHENING OUR CORE BUSINESS
In the year of 2005, CDL purchased several sites in Singapore including the coveted site of Sentosa Cove in May. Although its bid was not the highest, the striking architectural design conceived by Wimberly Allison Tong & Goo (WATG) was the deal clincher, beating all competition. The development will stand at the maximum permissible height of 15 storeys comprising 264 units and is a 50:50
joint venture with TID Pte. Ltd..

In July, 21 Swiss Club Road, with a site area of 42,270 sq. feet was purchased for $12.8 million. As CDL already owned the adjoining sites of 15 and 19 Swiss Club Road, there will be plans to amalgamate all plots into one site for good class bungalow redevelopment in this exclusive district. In an en-bloc sale, CDL in November 2005 purchased Bougainville, a freehold development with a site area of 30,368 sq. feet along Shelford Road. Together with an adjoining site, the combined site will have a freehold land area of about 74,901 sq. feet and can be
redeveloped into a condominium of about 85 units.

Adding to our five million sq. feet of lettable space is our latest retail development, City Square Mall. Slated to be one of the largest shopping centres in Singapore with over 700,000 sq. feet of retail space, it will be a shopping, entertainment and services hub in the rejuvenated Serangoon/Kitchener Road area. Designed by the renowned Land Lease Group, City Square Mall will offer consumers an exciting and extensive mega shopping experience.


TRANSFORMING CITYSCAPES

CDL has been driving its expansion not only in Singapore, but also across the Asia Pacific region, transforming cityscapes.

We have diversified our expansion strategy overseas through our investment in Real Estate Capital Asia Partners, L.P. (RECAP) with a US-based investment fund and certain other limited partners. RECAP has been actively exploring opportunities in the Asian markets.

In February, RECAP purchased prime freehold residential land in Sukhumvit Soi 20. To be ready in 2008, the luxury condominium in Bangkok will comprise about 600 units. RECAP also purchased MyeongDong Tower, a 15-storey office building located in MyeongDong, one of the premier commercial districts in Seoul, with a
net floor area of 92,744 sq. feet.

CDL acquired an interest in Exchange Tower (formerly known as Pornpat Tower) in Bangkok. Offering both office and retail space, this grade “A” building is strategically located in the prime Central Business District at the junction of Sukhumvit Road and Ratchadapisek Road. It is easily accessible via the exchange station of the BTS and MRT (Bangkok’s mass rapid transit systems).


EXQUISITE HOTEL SERVICE

 
 
Millennium Hongqiao Shanghai
Millennium & Copthorne Hotels plc (M&C) also significantly increased its presence in Asia in 2005. The 326-room Millennium Sukhumvit Bangkok is expected to be ready in 2007. M&C also clinched a management contract for the 350-room, five-star Millennium Hongqiao Shanghai. It is expected to open in mid-2006 and is a 10-minute drive from the city’s domestic Hongqiao Airport. M&C signed a total of 10 management contracts in 2005.

In Kuala Lumpur, there are plans to develop a 132-unit luxury apartment building on a vacant plot of land next to Regent Hotel. The freehold property faces Jalan Bukit Bintang, the city’s premier shopping, entertainment and tourism district. Both Regent Hotel and the apartment project are owned by M&C.

CDL’s strategy to make its mark in these Asian cities reflects a growing interest and confidence in the Asian market. CDL will continue to make new inroads into the region progressively and has its eye on other markets including India and Vietnam. At the same time, CDL will consolidate and strengthen its position in markets where it is already present.