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The Founding of CDL

CDL began in a small, rented office in Amber Mansions on 7 September 1963, staffed by only eight employees, to acquire, develop and sell property. The Company went public in November 1963 and its shares were listed on what was known then as the Malayan Stock Exchange.

The Early Years

In 1965, CDL completed its first housing project, Fresh Breezes in Johor Bahru, and pioneered the "show flat" concept. This was followed by the launch of its first high-rise residential development in Singapore, City Towers, as well as the completion of Phase One of Clementi Park, CDL’s first full condominium concept project, in 1966.

A New Beginning

In 1972, the Hong Leong Group, under the guidance and leadership of founder, the late Mr Kwek Hong Png, acquired a controlling interest in CDL and embarked on a strategic diversification into investment properties. CDL placed its diversification strategy into effect with the acquisition of Guan Realty (Private) Limited in 1972. This newly acquired subsidiary subsequently developed City Plaza, CDL’s first mixed use development which was completed in 1980.

Singapore Property Pioneer

With the late Mr Kwek’s aspiration and strong business acumen, CDL emerged as a major property developer in Singapore. In the 1980s, CDL launched 21 residential properties and completed 12 investment properties including City House in the heart of the Central Business District, which became CDL's headquarters until 2018.

Hotel Acquisition

CDL made its maiden foray into the hospitality industry with the development of King’s Hotel (now Copthorne King’s Hotel Singapore). Orchid Inn (now redeveloped into a residential project – The Glyndebourne) was also bought about this time. This was followed by rapid expansion and regionalisation. Today, CDL's hospitality arm, Millennium & Copthorne Hotels Limited (M&C) is Singapore's largest international hotel group and one of the largest hotel owners and operators in the world.

50 Years of Distinction

With over five decades of track record, CDL has built a distinctive legacy of industry leadership and championing green buildings, fueled by our vision to conserve as we construct. We look forward to achieving new milestones as we continue to transform the eco-landscape as well as to set benchmarks in innovation and sustainable developments. And to press on for our biggest reward – a better home for everyone to live in.

1963

  • Started as a residential property developer with only eight employees at a rented premise at Amber Mansions along Orchard Road.
  • CDL shares were listed on what was known as the Malayan Stock Exchange.

1965

  • Completed Fresh Breezes, CDL's first residential project.

1966

  • Completed City Towers, CDL's first high-rise residential project.
  • Completed Phase One of Clementi Park, CDL's first full condominium-concept project.

1969

  • Mr Kwek Leng Beng, Mr Chow Chiok Hock and Mr Sim Miah Kian took their positions on the CDL Board of Directors after Hong Leong Group bought into CDL.

1972

  • Hong Leong Group acquired a controlling interest in CDL and embarked on a diversification policy to increase the Company's sources of income.
  • Acquired Guan Realty (Pte) Ltd which developed City Plaza, CDL's first mixed development.

1973

  • Announced maiden dividend to shareholders.

1974

  • Mr Kwek Hong Png, the founder and patriarch of Hong Leong Group took over the Chairmanship of CDL and Mr Kwek Leng Beng was appointed Managing Director.

1980

  • Completed City Plaza, CDL's first integrated development.
  • Took first step into the hospitality industry with the acquisition of King's Hotel (now Copthorne King's Hotel).

1981

  • King's Hotel Ltd bought over S. K. Chee Pte Ltd, including assets such as shop units, office space and parking lots at the Tanglin Shopping Centre.
  • Acquired Singapura Developments (Pte) Ltd, a major property company with commercial properties in Katong Shopping Centre, Woh Hup Complex, Queensway Shopping Centre, the Arcade and residential land along Clementi Road and Tanah Merah Besar at Changi.

1983

  • City House, CDL's first flagship commercial building was completed. It was CDL's operational headquarters till 2018.

1985

  • CDL Hotels New Zealand Limited (now M&C New Zealand Limited) was incorporated and listed on the New Zealand Stock Exchange.

1987

  • Marked CDL's regional expansion with the acquisition of Grand Hyatt Taipei.
  • A prime site at Raffles Place was purchased and amalgamated with two adjoining sites, which gave rise to Republic Plaza, CDL's flagship commercial building.

1989

  • Rose to become the largest listed property developer in Singapore with a market capitalisation crossing over the $2 billion mark.
  • Purchased Orchid Inn Penang (now Copthorne Orchid Hotel Penang) and Manila Plaza Clarion (now The Heritage Hotel Manila) - its first acquisitions in Malaysia and Philippines respectively.
  • CDL Hotels International Limited was formed and listed on the Hong Kong Stock Exchange.

1992

  • Acquired 72% of the public-listed Euro-National Corporation Ltd (renamed CDL Hotels New Zealand Ltd).
  • Signed landmark agreement with US-based Choice Hotels International for the master franchise of the choice trademark in Singapore, Malaysia, Hong Kong, Brunei, Taiwan, the Philippines, Macau and China.
  • Acquired The Gloucester in London, CDL’s first hotel entry into Europe.

1993

  • Acquired QINZ Holdings, which owned and managed a 13-hotel chain in New Zealand.

1994

  • Maiden entry into the USA market with the purchase of Millenium Hilton and Hotel Macklowe in New York.

1995

  • Mr Kwek Leng Beng was appointed as Executive Chairman and Mr Kwek Leng Joo as Managing Director.
  • CDL Hotels International Limited and Saudi Arabia’s Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud completed the acquisition of an 80% stake in The Plaza Hotel from Donald Trump.
  • Lot 1 Shoppers’ Mall, Choa Chu Kang’s first major shopping complex, was launched.
  • Acquired the Copthorne Hotel chain from Aer Lingus and added hotels in Britain, Germany and France. Also became New Zealand’s largest hotel owner with 21 hotels.
  • Launched a new global hotel brand, Millennium Hotels & Resorts.

1996

  • Millennium & Copthorne Hotels plc (M&C), a subsidiary of CDL Hotels International Limited, was listed on the London Stock Exchange. This marks the first Singapore-controlled company to be listed on the London bourse.
  • Launched Le Grove, CDL's first serviced apartment development, along Orange Grove Road.

1997

  • Official opening of Tower Club, a private business club over the 62nd to 64th floors of Republic Plaza.
  • Executive Chairman Mr Kwek Leng Beng was named Businessman of the Year 1996 at the prestigious annual Singapore Business Awards.
  • First expansion into Japan with the acquisition of Umeda Mitsui Building (now known as Umeda Pacific Building), a prime office building in Osaka.
  • Clinched its first FIABCI Best of World Real Estate Award as Republic Plaza was picked Overall Winner.

1998

  • Official opening of Republic Plaza, CDL’s newest flagship building by then Prime Minister Goh Chok Tong. The building is designed by world renowned architect Dr Kisho Kurokawa.
  • Voted one of Asia’s Best Managed Companies in an Asiamoney poll.
  • Launched CDL’s first Executive Condominium, The Florida, to much success. Copthorne makes its debut in Asia with the rebranding of four hotels in Singapore and Malaysia.
  • Conferred the Highest Growth in Market Capitalisation in 25 Years commendation by Stock Exchange of Singapore.

1999

  • Purchased the five-star Seoul Hilton (now Millennium Seoul Hilton) for US$213.5 million which marked the largest international hotel deal in Asia back then.
  • M&C now ranks amongst Britain's Top 100 Most Admired Companies.
  • With the completion of the acquisition of Regal Hotels International, M&C became the world's top 15 hotel owners and operators with a total of 117 hotels in 13 countries.

2000

  • Unveiled a restructuring plan to acquire a controlling stake of 52.4% in M&C from its subsidiary, CDL Hotels International Limited (CHIL). CHIL, renamed City e-Solutions Limited in August 2000, was dedicated towards providing management services and technology solutions for the hospitality industry, as well as making investments in the global real estate sector.
  • Launched the first Singapore i-Home, The Equatorial, designed to be intelligent, interactive and Internet-ready.

2001

  • M&C expanded into the Middle East with management contracts secured in the United Arab Emirates.
  • M&C and Maritim Hotels entered into an agreement to form a global strategic marketing alliance. Their combined portfolio brought together 128 hotels with close to 35,000 rooms in Europe, USA and Asia.
  • Opened CDL Customer Centre at City House, the first integrated customer and call centre in the Singapore property industry.

2002

  • Launched Savannah Condo-Park, Singapore's First Eco-Condo.
  • First private developer to receive the Building and Construction Authority Quality Mark Award in 2002 which recognises high workmanship standards for all units in a residential project.

2003

  • The Pier at Robertson, a CDL’s freehold 201-unit riverfront development with a “Home Office” concept was launched.
  • Official opening of Waterfront Conference Centre, located next to CDL’s flagship hotel, Grand Copthorne Waterfront Hotel Singapore. Then, it was Singapore’s third largest convention centre.
  • City Serviced Offices, a wholly-owned subsidiary of CDL, commenced operations as a one-stop serviced office and real estate solutions provider at Republic Plaza.

2004

  • Launched Tower One of The Sail @ Marina Bay - Singapore’s Tallest Residences. Tower Two was launched in Oct 2005 and almost sold-out within days of its launch.

2005

  • Singapore’s top private residential property seller in 2005 – projects contributing to CDL’s sales include The Sail @ Marina Bay Tower 2 and City Square Residences which were amongst the top five best sellers for the year.

2006

  • Launched Singapore's first branded residences, the luxurious St. Regis Residences, Singapore.
  • M&C announced the initial public offering of CDL Hospitality Trusts (CDLHT). CDLHT was the first hotel REIT in Singapore and is a stapled group comprising CDL Hospitality Real Estate Investment Trust (H-REIT) and CDL Hospitality Business Trust.
  • M&C officially opened the five-star Millennium Hongqiao Hotel, Shanghai, its first hotel in China.

2007

  • Part of consortium awarded the landmark South Beach site. The iconic green development was designed by world-renowned firm Foster + Partners and will comprise hotel, residential, office and retail space.
  • Expanded its global footprint with a joint venture involving among other things, a hotel and conference and business facilities in Russia.
  • The St. Regis Singapore made headlines as the first international luxury hotel to open in Singapore over the last decade.

2008

  • Launched its first dedicated Sustainability Report, the first Singapore report to be successfully checked by the Global Reporting Initiative.
  • Announced the issuance of Singapore's first Sukuk-ljarah unsecured financing arrangement, under a proposed S$1 billion Islamic Multi-Currency Medium Term Notes Programme to tap new markets and investors.

2009

  • Named Singapore's first Platinum winner of the Built Environment Leadership Awards by BCA.
  • 11 Tampines Concourse was unveiled as the first CarbonNeutral® development in Singapore and Asia Pacific.
  • City Square Mall, Singapore's first eco-mall was soft-launched.

2010

  • The Residences at W Singapore – Sentosa Cove, CDL's second branded residences, a collection of 228 private luxury residences at the exclusive waterfront residential enclave of Sentosa Cove was launched.
  • CDL China Limited, a wholly-owned subsidiary of CDL, made its first acquisition, a development site in Chongqing, China, in December.
  • First Company in Singapore to achieve International AA1000AS (2008) Assurance Standard for Sustainability Reporting.

2011

  • Recorded its highest pre-tax profit surpassing the $1 billion mark for the first time for the financial year 2010. CDL's pre-tax profit also crossed the $1 billion mark for the financial year 2011.
  • First private developer to be conferred the highest honour of the inaugural Green Mark Platinum Champion Award at the BCA Awards 2011.
  • Selected as an index component on the Dow Jones Sustainability Indices (World and Asia Pacific).
  • First Company in Singapore to address ISO 26000:2010 Guidelines in its Sustainability Report.

2012

  • Most honoured private developer at BCA Awards 2012 and accumulated 62 BCA Green Mark developments including 21 Green Mark Platinum projects, the most for a private developer on both counts.
  • [email protected] GARDEN is first landed residential estate in Singapore to achieve the BCA Green Mark Platinum award.
  • First Singapore property developer to publish a Level A+ Sustainability Report checked by the Global Reporting Initiative (GRI) using the GRI G3.1 guidelines and the Construction and Real Estate Sector Supplement.
  • Named Asia Pacific Green Builder of the Year 2012 by global research and growth consultancy, Frost & Sullivan.
  • At the 13th Securities Investors Association Singapore (SIAS) Investors’ Choice Awards, CDL Executive Chairman Mr Kwek Leng Beng and CDL Managing Director Mr Kwek Leng Joo were named joint winners as “Partners in the Office of the CEO” in the Brendan Wood International - SIAS TopGun CEO Designation Award.
  • Emerged victorious in the Exceptional CSR Practice category at The British Chamber of Commerce’s 13th Annual Business Awards.

2013

  • D’Nest condominium entered the Singapore Book of Records for achieving the national record for “Largest Solar Panels In A Condominium”.
  • First developer to introduce a specially developed Home Energy Management System (HEMS) iPad application for Echelon - a 508-unit condominium development.
  • First developer to receive the prestigious BCA Quality Excellence Award - Quality Champion (Platinum) and BCA Construction Productivity Award - Advocates (Platinum).
  • First company outside Europe to win the International Dilmun Environmental Award accorded by the Royal Society for the Prevention of Accidents (RoSPA)
  • Launched My Tree House - World’s First Green Library for kids, in collaboration with National Library Board.
  • Developed the CDL Green Gallery @ Singapore Botanic Gardens (SBG) Heritage Museum, Singapore’s first zero energy Green Gallery, in collaboration with National Parks Board.

Celebrating 50 Golden Years

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2014

  • BCA Awards 2014 – The only developer to receive the BCA Quality Champion (Platinum) accolade for two consecutive years.
  • Tree House condominium entered the Guinness World Records for Largest Vertical Garden, placing Singapore on the global map for sustainability
  • Selected as an index component in the Dow Jones Sustainability Indices (Worldwide and in Asia Pacific).
  • Top Property Developer in Asia and Top Singapore Corporation in the inaugural Channel NewsAsia Sustainability Ranking.
  • First developer in Asia to adopt the advanced construction technology, Prefabricated Prefinished Volumetric Construction (PPVC) for the 638-unit The Brownstone Executive Condominium – likely the world’s largest application of concrete PPVC for a large-scale private residential development.
  • First Profit Participation Securities (PPS), a S$1.5 billion investment instrument that invests in the cash flows of CDL’s properties in Sentosa Cove called the Quayside Collection.

2015

  • Most-awarded developer and biggest winner of the inaugural Green Mark Pearl Award at the BCA Awards 2015.
  • CDL’s Tree House condominium emerged World Gold Winner, the only World Gold Winner from Singapore, at the FIABCI World Prix d’Excellence Awards 2015 in the Sustainable Development Category.
  • The Brownstone Executive Condominium (EC) emerged one of the best-selling ECs in 2015.
  • Second Profit Participation Securities (PPS), a partnership with co-investor Alpha Investment Partners Limited for joint investment in a S$1.1 billion office portfolio comprising three of CDL’s prime office buildings.
  • Announced re-entry into the Australian residential sector with investment in A$275 million residential development in Brisbane, Australia.
  • Selected once again as an index component in the Dow Jones Sustainability Indices (Worldwide and in Asia Pacific).

2016

  • Global 100 Most Sustainable Corporations in the World – Ranked top real estate company and top 10.
  • Partnered National University of Singapore to develop novel technologies for smart green living. S$2.25 million gift from CDL enables setting up of two laboratories to test-bed building technologies.
  • First property developer in Singapore to achieve the globally-recognised ISO 14064-1 certification in Greenhouse Gas emissions reporting.
  • BCA Awards 2016 – Extends lead in tenant engagement as most-awarded developer in Green Mark Pearl category.
  • Launched Singapore Sustainability Academy in partnership with Sustainable Energy Association of Singapore.
  • Third Profit Participation Securities (PPS) unlocked value of Nouvel 18, a 156-unit luxury freehold residence for S$977.6 million.

2017

  • Global 100 Most Sustainable Corporations in the World – Ranked top Singapore company and most sustainable corporation in real estate management & development.
  • Invested RMB 72 million in China’s leading co-working space operator Distrii.
  • Successfully launched the first green bond by a Singapore company.
  • JW Marriott Hotel Singapore South Beach held its grand opening, bringing to fruition the South Beach mega mixed-use project
  • CDL’s luxury freehold development Gramercy Park soft-launched Phase 2 and achieved positive sales
  • Officially opened the zero-energy Singapore Sustainability Academy at City Square Mall
  • BCA Awards 2017 – emerged most-awarded private-sector developer and first and only developer to be conferred the inaugural top Quality Star Champion
  • Introduced new sustainability blueprint CDL Future Value 2030 to complement growth strategy and future-proof business

2018

  • One of two Singapore companies listed in the inaugural sector-neutral Bloomberg Global Gender-Equality Index
  • Global 100 Most Sustainable Corporations in the World – ranked for the ninth consecutive year
  • Launched 124-unit luxury freehold development New Futura in two phases
  • BCA Awards 2018 – first and only private sector developer to receive the pinnacle inaugural Built Environment Leadership Platinum Star Award
  • Secured three GLS land sites at Handy Road, West Coast Vale and Sumang Walk
  • Welcomed Distrii’s first international co-working centre at Republic Plaza. Distrii Republic Plaza is Singapore’s single largest co-working facility
  • Clinched prime mixed-use GLS site in Sengkang Central with JV partner CapitaLand Limited
  • Acquired Aldgate House and 125 Old Broad Street, two prime Grade A commercial buildings in Central London

2019

  • Bloomberg Gender-Equality Index 2019 – only Singapore real estate management and development company to be listed for two consecutive years
  • Global 100 Most Sustainable Corporations in the World – ranked top Singapore company
  • Started private previews for freehold residential development Boulevard 88 and achieved sales of over S$160 million in less than two weeks
  • Secured Singapore’s first green loans for new property developments, amounting to S$500 million
  • Freehold development Amber Park topped sales on launch weekend as best-selling new freehold property launch
  • Entered into transformational RMB 5.5 billion deal with Sincere Property Group, an established real estate developer in China
  • BCA Awards 2019 – only developer to be conferred Quality Excellence Award – Quality Champion (Platinum) for seven consecutive years
  • Piermont Grand Executive Condominium launched to strong take-up and was best-selling property launch in 2019
  • Pioneered first-of-its-kind Sustainable Development Goals (SDG) Innovation Loan to accelerate innovative solutions
  • Celebrated the launch of the newly-revamped Republic Plaza with innovative features and refreshed retail enclave, after a S$70 million makeover
  • Millennium & Copthorne Hotels Limited (M&C) was delisted from the London Stock Exchange in October following a successful privatisation exercise launched by CDL. M&C is a wholly-owned subsidiary of the CDL Group.
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