Singapore-listed global real estate developer, investor and manager, part of the Hong Leong Group.
cdl.com.sgLegal name
City Developments Limited
Founded
1963
Headquarters
Republic Plaza, 9 Raffles Place, Singapore
Industry
Real estate (residential, commercial, hospitality)
Employees
10,001+
Group CEO
Sherman Kwek
Executive Chairman
Kwek Leng Beng
Revenue (FY24)
S$3.27 billionMarket Cap
S$7.0 billionListed on
SGX: C09
City Developments Limited (CDL) is a Singapore-based global real estate company founded in 1963 and listed on the Singapore Exchange as SGX: C09. It's part of the Hong Leong Group, which took control of CDL in 1969. Its portfolio covers homes, offices, hotels, serviced apartments, student housing, retail malls and integrated developments across 167 locations in 28 countries and regions.
CDL is led by Executive Chairman Kwek Leng Beng, who has chaired the company since 1995, and Group CEO Sherman Kwek, who took the role in January 2018. Yiong Yim Ming is Group Chief Financial Officer and Kwek Eik Sheng is Group Chief Operating Officer. The company employs more than 10,000 people and is based at Republic Plaza, 9 Raffles Place, Singapore.
For the full year ended 31 December 2024, CDL reported revenue of S$3.27 billion and PATMI of S$201.3 million, down from S$4.9 billion in FY2023. As of 22 July 2026, its market capitalisation was about S$7.0 billion. CDL's subsidiaries have historically included the Millennium & Copthorne Hotels business.
Executive Chairman
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Group Chief Financial Officer
Group Chief Operating Officer
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Singapore • Full-time
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May 20, 2026
CDL Posts Q1 2026 Operational Update
CDL and its joint ventures sold 242 units worth S$609.6 million in Q1 2026, down from 795 units a year earlier on fewer new launches. Global hotel RevPAR rose 4.3% to S$144.8, led by Singapore at 7.5%.
#Q1Results #RealEstate #Hospitality
View postApril 10, 2026
CDL Releases 19th Integrated Sustainability Report
CDL published its 19th Integrated Sustainability Report themed "Time for Impact: Future-Proofing Planet, People and Prosperity". It cited a 29% cut in Scope 1 and 2 emissions from 2016 levels, an MSCI AAA rating, and CDP A List status.
#Sustainability #ESG #NetZero
View postApril 9, 2026
CDL Sets Up S$2 Billion Perpetual Securities Programme
CDL established a S$2 billion multicurrency perpetual securities issuance programme, arranged by United Overseas Bank, for working capital, corporate funding, and refinancing. Proceeds target institutional and accredited investors, with an SGX-ST listing application filed.
#CapitalMarkets #Financing #SGX
View postFebruary 26, 2026
CDL Triples FY2025 Net Profit on Singapore Sales
CDL reported FY2025 PATMI of S$629.7 million, up about 213% from S$201.3 million a year earlier, with revenue rising 9.7% to S$3.59 billion. The recovery came from Singapore residential sales and roughly S$2 billion in capital recycling.
#Earnings #FY2025 #PropertyMarket
View postDecember 19, 2025
CDL Hits 52-Week High Amid Divestment Drive
CDL shares reached a 52-week high of S$8.03 on 19 December 2025, up about 50% over the year, as the group completed around S$2 billion of divestments in 2025 including a Sentosa Cove sale and a Blackstone hotel deal in Osaka.
#StockPrice #Divestments #SGXC09
View postCDL is a Singapore-based global real estate company. It develops and manages homes, offices, hotels, serviced apartments, student housing, retail malls and integrated projects across 28 countries and regions.
