Billionaire Kwek Leng Beng’s CDL To Raise $4.7 Billion From Asset Sales In Business Revamp

Billionaire Kwek Leng Beng’s CDL To Raise $4.7 Billion From Asset Sales In Business Revamp

The divestments would help City Developments—the Singapore-based real estate firm controlled by billionaire Kwek Leng Beng and his family—cut the group’s gearing to about 55% by 2029, from 75% currently.

CDL looks to invest US$3.9b in Singapore, China, Japan to raise confidence

The company’s future has been a subject of intense discussion after a legal tussle between patriarch Kwek Leng Beng and eldest son Sherman.

CDL to invest S$5 billion, target S$6 billion divestments under refreshed strategy

The property developer plans to double its AUM to S$10 billion by FY2029 Read more at The Business Times.

CDL to unlock hidden empire worth $6b to deploy into better yielding assets

CDL targets to deploy $5 billion of growth capital across residential, commercial, hospitality and living. Read more at straitstimes.com.

US$3.9 Billion to Grow, US$4.7 Billion to Unlock: CDL’s Bold New Property Strategy - Commonwealth Union

SINGAPORE, 28 September 2026—City Developments Limited (CDL) has launched its bold three-year plan worth billions of dollars, but the immediate response from the market was astonishing: the stock of this giant in the property sector fell by as much as 6.3% on 28 September—the largest one-day fall since March. The GET+ Plan announced by CDL […]