2016 Annual Report and Appendix

Annual Reports and Related Documents:: Page 1 of 1 Annual Reports and Related Documents:: Issuer & Securities Issuer/ Manager CITY DEVELOPMENTS LIMITED Securities CITY DEVELOPMENTS LIMITED - SG1R89002252 - C09 Stapled Security No Announcement Details Announcement Title Annual Reports and Related Documents Date & Time of Broadcast 27-Mar-2017 17:13:33 Status New Report Type Annual Report Announcement Reference SG170327OTHREHNK Submitted By (Co./ Ind. Name) Enid Ling Peek Fong Designation Company Secretary Description (Please provide a detailed description of the event in the box below - Please see attached. Refer to the Online help for the format) Additional Details Period Ended 31/12/2016 Attachments CDL_Annual_Report_2016_.PDF CDL-Appendix.pdf Total size =3393K http://infopub.sgx.com/Apps?A=COW_CorpAnnouncement_Content&B=Announcem... 3/27/2017 CITY DEVELOPMENTS LIMITED ANNUAL REPORT 2016 Building Value Targeting Growth Building Value Targeting Growth Driven by a passion and purpose to ‘Build Value’, we define our success by the value we have created for our stakeholders. Against the backdrop of a rapidly evolving business landscape, we continue to transform our organisational frameworks and develop our growth platforms. Our multi-dimensional focus on innovation and collaboration will be the key drivers of our business success in the new economy. By leveraging our enterprise agility, we will accelerate our strategic diversification objectives for sustained growth – and deliver enhanced value for our stakeholders. OVERVIEW 01 Corporate Profile 12 2016 Business Highlights 13 5-Year Financial Highlights 14 Chairman’s Statement 22 Corporate Structure SUSTAINABILITY PROPERTY PORTFOLIO 23 Highlights of the Year 25 Awards & Accolades 70 Sustainability Board Statement 88 Property Portfolio Analysis 26 Corporate Directory 78 CDL Future Value 2030 91 Major Properties CORPORATE GOVERNANCE FINANCIALS & OTHER INFORMATION BUSINESS OVERVIEW 27 Board of Directors 103 Statutory Reports and Accounts 30 Senior Management 80 Corporate Network 247 Statistics of Ordinary Shareholdings 34 Corporate Governance 81 Financial Review 249 Statistics of Preference Shareholdings 62 Risk Management 82 Operations Review 250 Share Transaction Statistics 67 Investor Relations 85 Market Review 251 Notice of Annual General Meeting 69 Calendar of Financial Events 87 Human Resource Review Proxy Form Cover: Gramercy Park, Singapore CORPORATE PROFILE City Developments Limited (CDL) is a Singapore-listed international real estate operating company with a global presence spanning 97 locations in 26 countries. As one of Singapore’s largest companies by market capitalisation, its income-stable and geographically-diversified portfolio comprises residences, offices, hotels, serviced apartments, integrated developments and shopping malls, totalling over 18 million square feet of floor area globally. CDL has hotel assets in one of the world’s largest hotel groups – its London-listed subsidiary, Millennium & Copthorne Hotels plc (M&C), has over 130 hotels globally, many in key gateway cities. Globally, CDL has developed over 40,000 homes and is one of Singapore’s largest commercial landlords, with one of the biggest landbanks amongst Singapore private-sector developers. Building on its track record of over 50 years in real estate development, investment and management, CDL has developed growth platforms in five key international markets – UK, US, China, Japan and Australia. The Company is also leveraging its stable of prime assets and growing its real estate funds management business. It currently has over $3.5 billion in funds under management. VISION MISSION Building Value for As a trusted property pioneer and a global hotelier, Tomorrow, Today CDL builds value everywhere we go. • We build quality and innovative spaces to house desirable homes, competitive businesses and secure investments VALUES • We build sustainable profitability while conserving the environment • We build partnerships to achieve better results Committed to positive results • We build engaging careers so staff can grow with the company Competitive in setting standards and beating the competition • We build bonds with the community by supporting worthy causes Caring towards people we work with, products we create, and the environment we operate in At CDL, we believe the future is ours to build. BUILDING VALUE TARGETING GROWTH 01 STAYING FOCUSED DELIVERING RESULTS As Singapore’s property pioneer since 1963, we have shaped the cityscape with many iconic landmarks. Leveraging our core competencies in real estate development and investment, we remain focused on building a solid portfolio to drive excellence and create value. In 2016, property development segment was the highest contributor in terms of pre-tax profit, led by the strong sales performance of our domestic and international projects. STRONG PERFORMANCE 1,017 apartments sold one of Singapore’s Top-Selling Private Developers for FY 2016 CITY DEVELOPMENTS LIMITED 02 Artist’sANNUAL Impression REPORT 2016 Forest Woods | Singapore $1.25 billion $520 million Sales Value in pre-tax profit generated by property in Singapore for FY 2016 development segment BUILDING VALUE TARGETING GROWTH 03 ACCELERATING DIVERSIFICATION DEEPENING INVESTMENTS Positioned for growth, we continue to advance our two-pronged “5-5-5” diversification strategy launched in 2014, to build value in new geographies and products. We identified two key objectives to be achieved in five years. First, to invest $5 billion in five key overseas markets – UK, US, China, Japan and Australia; and second, to raise $5 billion in Funds under Management. Today, we have a stabilised property development business overseas, with over 80% of our proposed gross floor area (GFA) outside of Singapore. Our international development projects achieved strong sales performance in 2016, with maiden profit contributions from our China and UK projects. Beyond asset acquisitions, we also made strategic investments in new sharing economy businesses that complement our core businesses of real estate and hospitality. OVERSEAS INVESTMENTS $2.5 billion worth of acquisition assets since 2014 CITY DEVELOPMENTS LIMITED 04 Artist’sANNUAL Impression REPORT 2016 Hong Leong City Center | Suzhou, China RMB 2.21 billion RMB 100 million strategic investment into mamahome – one of China’s Sales Value fast-growing online apartment rental platforms which for 1,038 units sold/booked in will contribute to future long-term recurring income Hong Leong City Center Phase 1 to date streams BUILDING VALUE TARGETING GROWTH 05 LEVERAGING STRENGTHS HARNESSING VALUE Beyond bricks and mortar, we are focused on harnessing our capital and capitalising on the value of our assets. We continue to pursue our funds management and capital recycling programmes, to diversify our business and also, in part, to fund our asset acquisition initiatives. In 2016, we successfully raised $977.6 million through our third Profit Participation Securities (PPS) initiative, attracting a new pool of untapped Singaporean high net worth investors, as compared to the previous two PPS platforms, which were primarily targeted at institutional investors. The funds raised will be deployed toward our growth plans. FUNDS MANAGEMENT Over $3.5 billion in funds under management (FUM) since 2014 CITY DEVELOPMENTS LIMITED 06 ANNUAL REPORT 2016 Nouvel 18 | Singapore Raised $977.6 million 70% on target to achieve $5 billion FUM by end 2018 and unlocked value in Nouvel 18 through successful execution of third PPS transaction REVITALISING PORTFOLIO ENHANCING OFFERINGS With a focus on revenue generation, we continued to enhance our hospitality offerings and revitalise our hotel assets through refurbishments, as well as the launch of new brands and hospitality concepts. Coupled with a broad geographic footprint, our diverse hospitality assets will cater to differing customer needs across various regions. In Singapore, we debuted two new hotels in 2016 – the 293-room M Social Singapore located in the heart of Robertson Quay and the 634-room JW Marriott Hotel Singapore South Beach on Beach Road. The interiors of both hotels were designed by renowned French designer Philippe Starck. EXTENSIVE NETWORK Over 130 hotels global footprint largely led by subsidiary, Millennium & Copthorne Hotels plc (M&C), with over 37,000 rooms worldwide CITY DEVELOPMENTS LIMITED 08 ANNUAL REPORT 2016 M Social Singapore | Singapore M Social JW Marriott Hotel Singapore launch of M&C’s new brand aimed at the South Beach savvy and busy global traveller, with first hotel set to become one of Singapore’s most coveted culinary destinations, and in Singapore is part of the mega mixed-use development South Beach BUILDING VALUE TARGETING GROWTH 09 INTEGRATING SUSTAINABILITY CREATING FUTURE VALUE Beyond shaping skylines with architectural icons, we have transformed our built environment with numerous award-winning green buildings. For over two decades, we have embraced our ethos to “Conserve as we Construct”, investing in game-changing innovations that have been key enablers of resource efficiency and productivity. We continue to future-proof our business by integrating Environmental, Social and Governance (ESG) principles into our strategy and harnessing our capital to create lasting value for our business, shareholders, stakeholders and the community-at-large. 2030 is a milestone year for sustainable development and global climate agreement. We have established the CDL Future Value 2030 blueprint which sets out clear

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