CONTENTS City Developments Limited (CDL) is a leading global real estate company with a network spanning 168 locations in 29 countries and regions. Listed on the Singapore Exchange, the Group is one of the largest companies by market capitalisation. Its incomestable and geographically diverse portfolio comprises residences, offices, hotels, serviced apartments, student accommodation, retail malls and integrated developments. With a proven track record of over 60 years in real estate development, investment and management, the Group has developed over 53,000 homes and owns around 23 million square feet of gross floor area in residential for lease, commercial and hospitality assets globally. Along with its wholly-owned hotel subsidiary, Millennium & Copthorne Hotels Limited (M&C), the Group has over 160 hotels worldwide, many in key gateway cities. Leveraging its deep expertise in developing and managing a diversified asset base, the Group is focused on enhancing the performance of its portfolio and strengthening its recurring income streams to deliver long-term sustainable value to shareholders. The Group is actively pursuing its fund management growth strategy to further leverage its strengths. Cover (left to right): South Beach (Singapore), Newport Plaza (Singapore), The Sail @ Marina Bay (Singapore), Republic Plaza (Singapore), Grand Millennium Beijing (Beijing, China), New Futura (Singapore), City Square Mall (Singapore) Back Cover (left to right): Grand Copthorne Waterfront Hotel (Singapore), Boulevard 88 (Singapore), City House (Singapore), Amber Park (Singapore), Hong Leong City Center (Suzhou, China), 125 Old Broad Street (London, UK) OVERVIEW 12 2024 Highlights 13 5-Year Financial Highlights 14 Chairman’s Statement 16 Group CEO’s Statement 18 Corporate Network 19 Corporate Structure 20 Highlights of the Year 22 Awards and Accolades 23 Corporate Directory CORPORATE GOVERNANCE 24 Board of Directors 31 Management Executive Committee 33 Risk Management 44 Investor Relations 46 Calendar of Financial Events SUSTAINABILITY 47 Sustainability Board Statement BUSINESS OVERVIEW 59 Financial Review 61 Operations and Market Review PROPERTY PORTFOLIO 68 Property Portfolio Analysis 71 Major Properties Corporate Governance Report Please refer to the accompanying booklet (print copy) or access the report online CITY DEVELOPMENTS LIMITED
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