City Developments: Future-proofing its business through sustainable projects

SINGAPORE (EDGEPROP) - Mainboard-listed property giant City Developments Ltd (CDL) picked up the Top Developer Award at the EdgeProp Singapore Excellence Awards for 2019 on Oct 18 – the only developer to have walked away with that honour for three years running.
The company also bagged 12 other honours that night – including wins for residential projects Coco Palms, The Tapestry and The Venue Residences. Their luxury development Boulevard 88 also picked up the Sustainability Excellence Award for uncompleted project while The Criterion – an executive condos (ECs) project in Yishun – won the Top Development Award under the completed, non-Central area category.
Kwek Eik Sheng, group chief strategy officer (left), receiving the Top Developer Award for CDL (Picture: Albert Chua/EdgeProp Singapore)
It’s not surprising why many of the awards won were in the sustainability and top development categories. “For more than two decades, CDL has integrated sustainability into every aspect of our operations,” says Kwek Eik Sheng, CDL group chief strategy officer, who accepted the Top Developer award on behalf of the firm.
The developer has also been future-proofing its business through a three-pronged strategy as a developer, an asset owner and a corporate citizen, adds Kwek. “We develop green buildings, manage them in an energy- and resource-efficient way, and engage stakeholders on sustainable development.”

Six new launches in 2019

Including the preview of the 680-unit Sengkang Grand Residences on Oct 25, CDL would have launched six projects in 2019. “We will continue to work towards a sell-out position in the next one to two years,” says Chia Ngiang Hong, group general manager of CDL.
Sengkang Grand Residences is a joint venture between CapitaLand and CDL. It is an integrated development that includes a retail mall, community club, hawker centre, and childcare centre – all connected to a bus interchange and Buangkok MRT Station.
Sengkang Grand Residences is a joint venture between CapitaLand and CDL (Picture: CapitaLand/CDL)
This year, CDL participated in six out of nine residential development sites offered for...