122 views
Photo by Monstera Productin from Pexels

CDL achieves over $600m from divestments in 2024

The divestments aim to enhance portfolio efficiency and returns.

City Developments Limited (CDL) reported total asset divestments exceeding $600m in 2024.

The divested assets include the Ransome’s Wharf in London, the Cideco Industrial Complex, strata units at Citilink Warehouse Complex, Cititech Industrial Building, Fortune Centre, and Sunshine Plaza in Singapore, and the Hong Leong City Center (HLCC) in China.

The divestments are part of CDL's capital recycling. The company has additional divestments in the pipeline to further enhance portfolio efficiency and returns.

“The asset divestments reflect our focus on accelerating our capital recycling initiatives. While market conditions have posed challenges, we are encouraged by the momentum achieved. Our aim is to optimize capital management while calibrating our portfolio to align with strategic objectives and maximize shareholder value,” Sherman Kwek, group CEO of CDL said.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!