Introduction:
CDL Real Estate Developer is a renowned property developer in Singapore that has gained global recognition for its exceptional projects and achievements. The company was founded in 1963 by Kwek Leng Beng, and over the years, it has grown to become one of the largest real estate developers in Singapore, with a presence in over 100 locations worldwide. CDL Real Estate Developer’s success story is characterized by innovation, creativity, and a strong commitment to sustainability, making it a model for other companies in the industry. In this article, we will examine CDL Real Estate Developer’s success story and analyze its future prospects.

History and Background:
CDL Real Estate Developer was founded in 1963 by Kwek Leng Beng, who started the company with a vision of creating sustainable, innovative, and high-quality properties. The company’s first project was the development of the City Square Shopping Center in Singapore, which was a …

Grade A office rents in the Central Business District of Singapore saw a rise in the first quarter of 2023, though the q-o-q growth slowed for the second consecutive quarter. Real estate consultancy JLL reported an average gross effective rent of $11.30 psf per month, a modest 1.0% increase from the previous quarter.

This marked a slowdown in the 5 consecutive quarters of growth seen prior to this. Andrew Tangye, head of office leasing and advisory at JLL Singapore, attributed this lowering of growth to macroeconomic uncertainties that dampened demand for office space. He noted that large space users are largely refraining from relocating or expanding right now.

Small-to-medium sized space occupiers were largely driving leasing activity in the first quarter of 2023, with new market entrants and those needing to accommodate new workplace design or hiring being the major contributors. Notable leases in the CBD during this time include …

52 Boat Quay, a six-storey commercial shophouse located in Singapore’s central business district, recently sold for $37 million. Savills Singapore, who brokered the deal, described the property as a modern and well-equipped commercial space. It had undergone extensive renovations in 2015 and consists of a 1,119 sq ft site with an estimated total built-up area of 6,446 sq ft.

The prime location and desirable property drew “significant interest” from investors, Savills said. The top two floors are occupied by the Italian restaurant Braci, while an Izakaya bar occupies the ground floor. Corporate office tenants use the second and fourth floors.

Savills executive director of investment sales and capital markets, Yap Hui Yee, commented that the sale was an “excellent opportunity” for the long-standing client to acquire a “charming flagship property in the heart of the CBD”.

The seller had purchased the property in June 2018 for $21.35 million, making a …