CITY DEVELOPMENTS LIMITED ANNUAL REPORT 2021 OVERVIEW 6 7 T R A N S F O R M A T I O N REINFORCING STRENGTHS Capitalising on strategic investments, new platforms and innovation STRATEGIC INVESTMENT IN IREIT GLOBAL 76% INCREASE in AUM to €889.7MM since the Group’s investment in April 2019 FUND MANAGEMENT US$5 BILLION AUM target by 2023 GROUP’S TOTAL ASSETS $23.9 BILLION The Octagon I Birmingham, UK Artist’s Impression To future-proof our business, we have embarked on platform initiatives for portfolio diversification and transformation. We are actively pursuing growth of our fund management business organically and via mergers and acquisitions, with plans to establish a Singapore-listed REIT with UK commercial assets. Since our strategic investment into Singapore-listed IREIT Global in April 2019, we now hold a 21% stake in its units and a 50% stake in the REIT Manager. IREIT Global’s portfolio has also grown from five properties to 37 properties, with a 76% increase in Assets Under Management (AUM) today. Keeping pace with an ever-changing world, we continue to embrace innovation and digitalisation for business optimisation and operational efficiency. Our push into new economy and technology ventures will revolutionise our product offerings, enhance our value proposition and elevate customer experience. Through exploring growth platforms, new economy and technology ventures, we are positioned to propel our business forward for the future.
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