CDL is celebrating its diamond jubilee by winning seventh Top Developer Award
City Developments Ltd. (CDL) has had a memorable year. The property group celebrated their diamond jubilee in October and won the Top Developer Award for the seventh time at EdgeProp Singapore Excellence Awards 2023 (EPEA).
CDL is not immune to the challenges of the market, such as the slew property cooling measures in recent years, high interest rates, and a cautious macroeconomic outlook both globally and locally.
Chia Ngiang Hong took the stage to accept the award for the company that evening. She is the group general manager at CDL. The developer won eight other awards for four of its Singapore residential projects.
After the government announced a series of cooling measures for property in April of this year, the company decided to delay the preview of Newport Residences. This 246-unit residential project is located on Anson Road, in Tanjong Pagar. These measures included the doubling of foreign buyers’ additional stamp duty to 60%, from 30%. Newport Residences was developed from the former FujiXerox Towers.
The EPEA jury recognized several CDL residential projects that were completed or uncompleted and demonstrated excellence in design, landscape, sustainability and innovation. The award-winning CDL projects of this year were designed to cater to a wide range homeowners and buyers from Singapore.
CDL, in addition to its strengths as a developer of a diverse residential portfolio, ranging from ECs and high-end luxury developments, will look to elevate its track record for developing iconic mixed-use residential projects.
The Whistle Grand, a 716-unit development recently completed at West Coast Vale, won top awards for Top Development, Landscape Excellence and Design Excellence in addition to Innovation Excellence. Whistler was first offered for sale in November 2018, and it was sold out by October 2021. Its temporary occupation permit was obtained in April 2018.
Market watchers will also be looking out for CDL’s upcoming project in Woodlands, Champions Way. Last month, the developer won the site after submitting a winning bid of $294 million. This equates to a land rate per square foot of $904
Two of CDL’s executive condominium (EC) developments were recognized as the best projects in their respective categories. Piermont Grand received the award for the Best Executive Condominium in the category Completed (Non Central) while Copen Grand was awarded the award for the Best Executive Condominium in the category Uncompleted.
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CDL is also preparing for two new launches by 2024. Lumina Grande, a 512 unit EC project located at Bukit Batok Avenue 5, will be the first to launch in 2024. The project is scheduled to launch in the 1Q2024. CDL won the site at a government land auction in September of last year, after it submitted a winning bid of $336.07 millions. The land rate was $626 per plot ratio.
ECs is a unique public housing project that is developed by private developers and sold to Singaporean households who qualify. ECs fill a niche in the housing market, providing condo amenities at affordable prices. CDL has been able to do this at Piermont Grand, Copen Grand.
Solar photovoltaics panels on the roofs will harness the sun’s energy to produce electricity for the common areas.
Copen Grand is Singapore’s very first Green Mark Platinum super low energy EC. It integrates smart technology, green design and luxury living. Photovoltaic solar systems are used to provide energy for the clubhouse and function rooms, as well as the swimming pool, gym, and gymnasium.
The project, which is yet to be named, at Champions Way, will consist of approximately 350 residential units spread across four 11-storey buildings, an early childhood centre, and a carpark in the basement. According to Chia the project will be designed to achieve BCA Green Mark Platinum with a Maintainability Badge.
CDL’s innovative plans are centered around digitalisation. The company will integrate CDL Home Sales – its proprietary electronic system – which provides homebuyers with a transparent and efficient purchasing experience – with other digital solutions in its wider in-house ecosystem, such as the My CDL Home app. The app will allow home buyers to receive monthly updates about the progress of construction in their project, including an estimated TOP and specific information for their unit. Home buyers can also view their payment schedules and billing schedule on the app and make an appointment to collect keys after TOP.