21.09.20
City Developments Limited celebrates 10 years of real estate development in China
City Developments Limited’s entry to the Australian property market was not the Singapore-based Group’s first major international expansion.
In fact, CDL is well on the way to becoming a household name in China after a recent acquisition and notching up its first decade of operations in the world’s most populous nation.
Established in August 2010, CDL China Limited has built up an impressive portfolio of residential, commercial and mixed-use development sites across the key cities of Shanghai, Suzhou and Chongqing.
The Group has further diversified its business interests to include asset investment and management and expanded into the co-working space and leasing sectors in China.
Earlier this year, CDL acquired a controlling interest in Chinese real estate developer Sincere Property Group. This company focuses on the integrated development of residential and business parks and was ranked among China’s Top 100 Developers in 2019.
The partnership with Sincere represents a major milestone in CDL’s history and a game-changing investment, delivering a high quality and sizeable asset portfolio that is highly complementary to the Group’s core businesses.
Coming on the eve of CDL’s 10-year anniversary in China, the investment also accelerates the company’s geographical presence from three to 18 cities and will firmly establish CDL as a major player in China’s property sector.
CDL China’s current developments include prime sites in key locations, such as Emerald – a spectacular residential project at a scenic waterside location in the Chongquing Yuzhong District’s CBD. Conceptualised as the gateway to Yuzhong Peninsula, the three towers of Emerald artfully blend modern architecture and riverside charm to form a resplendent gem on the waterfront.
In Suzhou, the Hong Leong City Center project is a 400,000 square metre green-concept development with four towers embracing a huge shopping mall with more than 100 international and local brands. The towers of up to 41 storeys provide a mix of residential units, serviced apartments, office space and a 5-star luxury hotel.
To learn more about CDL China, go to www.cdlchina.com.