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CDL's Singapore new launch with nearly 2,000 units in Q4 2021

CDL's Singapore new launch with nearly 2,000 units in Q4 2021.

Singapore new launch comes with quality and well-invested projects City Developments Limited (CDL), often seen as the proxy for the Singapore residential property market, has a launch pipeline here of nearly 2,000 housing units for sale in four upcoming launches. This article will include 3 Singapore projects that were developed by CDL.

Which is Singapore new launch developed by CDL in Q4 2021?

Start with CanningHill Piers project - Singapore new launch comprises 696 units - the residential component of a mixed-use project on the former Liang Court site next to Clarke Quay, which the company is developing with CapitaLand . Canning Hill Piers is scheduled to launch in the fourth quarter of this year.

SSingapore new launch: CanningHill Piers

Singapore new launch: CanningHill Piers

Discover more about details information about CanningHill Piers - attractive Singapore new launch here!

Next year, CDL has three launches - Singapore new launch on Northumberland Road, close to Farrer Park Underground Station and an executive condominium at Tengah Garden Walk. Both are joint ventures developed with MCL Land, a wholly owned subsidiary of Hongkong Land.

Singapore new launch on  Northumberland Road

Singapore new launch on Northumberland Road

Discover more about details information about Singapore new launch on Northumberland Road - A brisk stroll from Northumberland Residences to the Farrer Park MRT Station serving the North East Line.

The remaining CDL launch scheduled for next year will be the residential component of the Fuji Xerox Towers redevelopment in Anson Road. All tenants in the freely owned office building have been vacant since July 1, and the corporation is currently decommissioning the building to prepare for redevelopment works.

Singapore new launch along Anson Road will include serviced apartments, offices and retail space. CDL team CEO Sherman Kwek revealed at the team's first half results press conference on Thursday that CDL is looking at the possibility of bringing in a financing partner for one or more components of the process. Fuji Xerox Towers redevelopment.

This will help the team maintain optimal performance. "It could really become a fund management initiative," he added at the virtual event.

CDL's net payout ratio, after factoring at the fair value of investment properties, was at 65% at the end of June 2021, up from 62% at the end of 2020. Over the same period, the interest payment ratio decreased to 2.5 times compared to 3.4 times before.

Singapore new launch along Anson Road

Former Fuji Xerox Towers 's Singapore new launch

Discover more about details information about Former Fuji Xerox Towers - Singapore new launch. The proposed redevelopment will comprise a 45-storey mixed-use integrated project. The residential component, comprising about 256 units, is slated for launch in 2H 2022.

Explore more about Singapore new launch

"We don't really want to see our gearing increase that much more," said Mr Kwek.

To this end, CDL will also accelerate its capital recycling initiatives to free up more cash for new acquisitions and reduce business operations to optimal levels.

It is eyeing the prospect of re-stocking its land bank in Singapore's high-end residential segment, which has stirred up deals amid rising prices; This segment also attracts wealthy expats.

The regional sale market will be a source to purchase land for this segment. As for China, where CDL has a problematic investment in Sincerity Property Group, and where Beijing has recently imposed a series of regulations on the real estate, technology and education sectors, Mr. Kwek said that CDL "still needs to pay attention and deepen its presence in the world's most populous country.

This will require the discovery of "new economy assets" such as logistics facilities and data centers, but extreme caution must be exercised - as the prices of these assets have increased significantly and also many established players in these fields. Despite a slowing global hotel landscape due to pandemic-related travel routes, the group is still selectively refurbishing its properties.

Source: The Business Times

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