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JUL 07 a Quarterly Publication by City Developments Limited JUL 07 A Quarterly Publication by City Developments Limited CDL WON HIGHEST BCA GREEN MARK AWARDS WELCOME TO THE NEW HAUTE LIVING LANDMARK From your vantage point, the world revolves 360° around you at Cliveden at Grange. The epitome of prestige and refinement, revel in the generous and ingenious spaces. Apartments range from 2,100 square feet to 6,000 square feet. ENTER A WORLD OF TIMELESS SOPHISTICATION, WITH ELEGANCE AND REFINEMENT AT EVERY TURN, ONLY AT CLIVEDEN AT GRANGE. YOUR SENSES WILL BE HEIGHTENED TO A NEW LEVEL OF LUXURY – WHERE NOTHING ELSE COMPARES. WELCOME TO THE NEW HAUTE LIVING LANDMARK Artist’s Impression At Cliveden at Grange, luxuriate in absolute privacy with only Designed by world-renowned architect Carlos Ott, the same one residence per floor. Stepping into your own private lift man behind the immensely successful One Shenton and The lobby, be swept away by grandeur as you enter the stylish and Solitaire, Cliveden at Grange comprises four elegant glass generously-sized apartment, complete with only the finest towers set amidst regally manicured gardens of paradise. designer fittings and fixtures. The artful landscaping re-creates a beautiful and captivating Be enthralled by virtually 360° spectacular panoramas of Garden of Eden experience – a delight for the senses. Viewing the surrounding views and beyond. Located at the doorstep of the show suite is by appointment only. of the pulsating Orchard Road vicinity, this freehold iconic residence is destined for prominence as possibly the finest For the pleasure of ownership, please contact (65) 6732 1211. – and most exclusive – residential project in the prestigious District 10 residential enclave. Cliveden at Grange comprises just 110 well-appointed apartments, housed in four 24-storey towers (three single towers and one twin tower). 01 CITY NEWS CDL’S PROFIT AFTER TAX TRIPLES IN Q1 07 REVENUE (Q1) S$’000 CDL GROUP’S FIRST QUARTER (Q1) 2007 PERFORMANCE EXCEEDED MARKET 769,069 EXPECTATIONS. 2006 541,396 For the first time, after so many challenging years for the property market, all real estate sectors – residential, commercial, retail, industrial and hotel – are performing well PROFIT AFTER TAX AND MINORITY INTERESTS (Q1) S$’000 and concurrently moving in an upward momentum. The Group, as the proxy to the Singapore property market, is confident 2007 126,083 of remaining profitable during the next 12 months and looks forward to further contributing to the growth of the Singapore economy. 2006 41,208 THE YEAR SETS OFF TO A ROUSING START In January 2007, CDL launched the highly anticipated 341-unit iconic masterpiece, One Shenton. Located near the Marina Bay REVENUE BY ACTIVITY (Q1) area, it has since been substantially sold. This was followed S$’000 by the launch of The Solitaire at Balmoral in March. Receiving 2007 tremendous response, all 59 units were snapped up in about 769,069 one week from the soft launch. Shortly after in April, Phase 1 258,475 450,419 46,630 13,545 of the joint-venture project Botannia was launched. The 493- unit West Coast Park development has been well-received and 2006 more than 75% of the 350 units released have been sold as at 541,396 4 July. 74,480 418,304 40,501 8,111 SHAREHOLDERS IN HIGH SPIRITS AT AGM PROFIT BEFORE INCOME TAX (Q1) Held on 26 April, the Annual General Meeting (AGM) was S$’000 used as a platform for CDL to share the Group’s strategic plans 2007 with its shareholders. Managing Director, Mr Kwek Leng Joo, 178,176 presented to shareholders details of the Group’s performance, 103,985 41,867 12,882 19,442 tracking its growth strategies as well as its continuous pursuit to unlock and enhance shareholder value. 2006 75,944 Shareholders also took the opportunity to understand more 38,392 27,049 2,381 8,122 about the Group’s operations and direction. There was open interaction between the CDL management and its shareholders Property Development who engaged in a candid, honest and interesting question and Hotel Operations Rental Properties answer session. The atmosphere was lively and shareholders Others were in high spirits, enjoying their soaring stock value. 02 UNIQUELY CDL STRATEGIC MOVES ON LAND ACQUISITIONS CDL kick-started the year with many valuable With these six strategic en bloc purchases, CDL has acquired substantial strategic acquisitions almost totalling 600,000 valuable District 11 space amounting to a total land area of 314,351 square square feet of land, providing more than 1.4 million feet (including adjoining pieces of state land). These selective purchases square feet of potential development area at a cost have not only further enhanced the value of each individual plot but of approximately S$1 billion. Combined with land collectively, have provided CDL greater flexibility in site development acquisitions in 2006, CDL has amassed about 1.5 with excellent growth potential. million square feet of additional land area at a cost of S$2 billion*. CDL is currently preparing for the launch of the combined site comprising Lock Cho Apartments, Comfort Mansion and a four-storey SETTING SIGHTS ON DISTRICT 11 walk-up apartment. Comprising about 336 units, this development is slated to be launched later in the year. In a move to considerably strengthen its presence in the prime District 11 Thomson vicinity, CDL swiftly Residents will benefit from the growth cluster in the Thomson vicinity acquired Thomson Mansions in April. Adjoining The as new properties are developed in the area. Strategically located in close Albany, these two sites (including an adjoining state proximity to a host of shopping, banking, leisure and healthcare facilities, land) would allow for a new development with a as well as established schools, the sites are a short drive from Orchard proposed gross floor area of 208,068 square feet Road and the Central Business District, and only minutes from the with the potential to yield 160 apartment units. Pan Island Expressway. Easy access to all parts of the island can be enjoyed via public transport, with the Novena and upcoming Thomson MRT Stations close by. CDL’s sizeable acquisitions in the prime Thomson Road vicinity Jalan Toa Payoh Site When Size (square feet) Price Thomson Mansions April 2007 17,445 S$30 million Balestier Court March 2007 60,213 S$81.3 million Thomson Mansions The Albany Bright Building (Including Possible Purchase Thomson Road Concorde Residences February 2007 of Adjoining State Land Plot) The Albany February 2007 56,865 S$65 million (Including Possible Purchase of Adjoining State Land Plot) Concorde Residences Lock Cho Apartment and March 2006 179,828 S$156.3 million Balestier Road Adjoining Properties (Including Possible Purchase Balestier Lock Cho Apartments of Adjoining State Land Plot) Bright Court & Adjoining Properties Building Total: 314,351 square feet S$332.6 million OTHER KEY PURCHASES This purchase closely follows the heels of three Other acquisitions made in 2007 include Hong Leong Garden Condominium other acquisitions in the same vicinity – Concorde at West Coast and Anderson 18 (a joint venture acquisition) in the prestigious Residences, and the adjoining Balestier Court and Ardmore Park area, both subject to approval by the Strata Titles Board. Bright Building. The three amalgamated sites, along A commercial plot near Tampines Central was also purchased. with an adjoining state land, have a maximum potential gross floor area of 168,600 square feet; translating to approximately 130 apartment units. *The figures include the share of joint venture partners. 03 CITY NEWS SENTOSA COVE – SINGAPORE’S GATEWAY TO PARADISE The Tree-Lined Waterfront Retail Promenade – Combining a collection of lifestyle shops and elegant restaurants, the design of this two-storey retail and commercial development provides panoramic views of the surrounding sea. Artist’s Impression Its creation inspired by the fabulous French Riviera, Sentosa Cove is being developed into one of the fi nest and most exclusive waterfront Artist’s Impression residential communities in the world. The new playground of the rich and famous, Sentosa Cove has been attracting prominent locals and Lushly Landscaped Boulevard – The gardens and foreigners, gaining an ever-increasing profi le in the international plaza offer views and open spaces for tourists, property scene. locals and residents to enjoy the resort experience. Choice home pickings include spacious bungalows and modern For those who have undoubtedly fallen in love with condominiums surrounded by azure waters. Have a boat you want to this idyllic resort island, they still have an opportunity moor outside your house? Sure, no problem. Choose a home with a to call it home as CDL will be launching the residential boat berth or stop over at the world-class marina next door instead. development at The Quayside Collection soon. This 228-unit luxury residence will comprise a range of two, Privacy is of the utmost priority in this select gated-community, so you three, four-bedroom apartments and penthouses. may set your mind completely at ease as you luxuriate in your private sanctuary, akin to living on your personal island with added perks. On the island, other luxuries and world-class amenities such as two world-class golf courses and the nearby upcoming Integrated Resort that will AN EXQUISITE LIFESTYLE AT THE QUAYSIDE include a Universal Studios theme park, Asia’s largest For residents’ convenience, The Quayside Collection, a chic and marine park and signature retail offerings. trendy waterfront village, the only commercial development within Sentosa Cove, is being developed by CDL. This design masterpiece Come home and celebrate the ultimate resort will comprise a two-storey retail and commercial development lifestyle on Sentosa Cove where everyday is an featuring a mix of lifestyle stores including convenience stores, exclusive fi ve-star holiday.
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