CDL looks to launch nearly 2,000 units in 4 Singapore projects

by Albert02

CDL looks to launch nearly 2,000 units in 4 Singapore projects

CDL looks to launch nearly 2,000 units in 4 Singapore projects. In four planned launches, CITY Developments (CDL), frequently used as a stand-in for the Singapore residential real estate market, will offer almost 2,000 dwelling units for sale.

The first will be the 696-unit CanningHill Piers, the residential portion of a mixed-use project that it is creating in partnership with CapitaLand on the former Liang Court site next to Clarke Quay. The opening of Canning Hill Piers is anticipated for the fourth quarter of this year. CDL plans to debut three products in 2019. These are an executive condo at Tengah Garden Walk and a project on Northumberland Road, both close to the Farrer Park MRT station. Both projects are joint ventures with Hongkong Land’s wholly owned subsidiary MCL Land.

The final launch for CDL will be the residential section of the Fuji Xerox Towers redevelopment along Anson Road. The group is currently decommissioning the freehold office building since all of its tenants have vacated as of July 1 in order to prepare for redevelopment work. The proposed complex will also include serviced apartments, offices, and retail space.

CDL group Chief Executive Sherman Kwek revealed during the company’s first-half results briefing that CDL is pondering perhaps enlisting a financial partner for one or more of the components of the Fuji Xerox Towers redevelopment. This would allow the gang to retain optimal gearing. He said, “It might actually turn out to be a fund-management initiative,” during the online conference.

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