The Beginnings of CDL
The Founding of CDL Real Estate Developer Of Piermont Grand
City Developments Limited, most commonly known as CDL, began in a tiny, rented commercial space in Amber Mansions on 7 September 1963, staffed by just eight employees, to look out for potential in real estate, develop and sell it. The Company went public in November 1963 and its shares were listed on what was known then as the Malayan Stock Exchange.
The Early Years of CDL development
In 1965, CDL finished its first housing project, Fresh Breezes in Johor Bahru, and pioneered the “show flat” concept. This was followed by the launch of its first high-rise residential development in Singapore, City Towers, as well as the completion of Phase One of Clementi Park, CDL’s first full scale private condominium concept project, in 1966.
A New Dawn for CDL Of Piermont Grand EC
In 1972, the Hong Leong Group, acquired a controlling interest in CDL and embarked on a strategic diversification into investment properties. CDL placed its diversification strategy into effect with the acquisition of Guan Realty (Private) Limited in 1972. This newly acquired subsidiary subsequently developed City Plaza, CDL’s first mixed use Development which was completed in 1980. And of course now when it comes to Piermont Grand EC, it would be just another project to conquer at Sumang Walk.
Executive Condo – Piermont Grand EC located at Sumang Walk
CDL is the Property Leading Force for Piermont Grand EC
With the late Mr Kwek’s driven mind and sensitive business acumen, CDL emerged as a major property developer in Singapore. In the 1980s, CDL launched 21 residential properties and completed 12 investment properties including City House in the heart of the Central Business District, which became CDL’s meet out.
Hotel Acquisition by City Development Limited
CDL made its maiden foray into the hospitality sector with the development of King’s Hotel (also commonly known as Copthorne King’s Hotel Singapore). Orchid Inn (now redeveloped into a residential project – The Glyndebourne) was also bought about this time. This was followed by quick expansion and regionalisation.
Today, CDL’s hospitality arm, Millennium & Copthorne Hotels plc (M&C) is Singapore’s largest international hotel group and one of the biggest hotel owners and operators internationally.