SINGAPORE – RESILIENCE DESPITE HEAD

SINGAPORE – RESILIENCE DESPITE HEADWINDS
Singapore’s residential property market remained subdued
due to economic uncertainties and the prevailing property
cooling measures. Despite challenging market conditions, for
the year under review, CDL with its joint venture associates
sold 1,378 units including Executive Condominiums (ECs) at a
value of about $1.4 billion, maintaining the Group’s position
as Singapore’s top-selling private sector developer for 2014.
CDL, together with Hong Leong Holdings Limited and Hong
Realty (Private) Limited, launched two residential developments
in May 2014. The 944-unit Coco Palms near Pasir Ris MRT
station, and the 845-unit Commonwealth Towers, located at
the city fringe, next to Queenstown MRT station, were very
well received. Both projects were respectively the first and
second best-selling project for May 2014 in terms of sales
volume. Coco Palms went on to become one of the top-selling
projects in 2014.