City Developments Limited and Hong Leong Holdings Limited
Since 1941, the Hong Leong Group has built a reputable record of continuity and credibility by its founder Kwek Hong Png. With distinctively defined goals and a team of visionary directors, Hong Leong Group continues to prosper to greater heights with the core leadership of Kwek Leng Beng. Today, it remains as a market leader by keeping abreast of the novel Information Technology era, a forward-thinking and global outlook, in tune with the fresh millennium.
Through its subsidiary company, Singapore-listed City Developments Limited (CDL) and Hong Leong Holdings Ltd, it accounts for the largest private residential land bank, and is appraised to be the biggest residential builder. On top of that, the group is also the main commercial landlord in Singapore’s core Central Business District. Their five core businesses are property investment and development, hotel ownership and management, financial services, trade & industry and e-Business. They are geographically present across Asia-Pacific, Europe and North America.
In 1972, the Hong Leong Group acquired a controlling stake in CDL and launched on a strategic move in investment properties. Consecutively, CDL then acquired Guan Realty (Private) Limited to build City Plaza, its first mixed-use project which was constructed in 1980. With multiple decades of enterprising experiences, CDL has built a distinctive legacy of industry leadership and championing green buildings, driven by the vision to go eco and create better homes for everyone to live in. With a network across 29 countries, it has developed more than 46,000 homes and owns over 24 million square feet of gross floor area in residential, hospitality, and commercial assets to date.
Leveraging on its profound proficiency in developments and management of diversification of assets, CDL aims to beef up its portfolio returns thus solidifying recurring income flow for all its shareholders. With its long-standing expertise of constructing private residential condominium in Singapore and globally, Penrose Singapore will be another highly sought after new launch project in District 14, Singapore.
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