CDL began in a small, rented office in Amber Mansions on 7 September 1963, staffed by only eight employees, to acquire, develop and sell property. 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
In 1965, CDL completed 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 condominium concept project, in 1966.
A New Beginning
In 1972, the Hong Leong Group, under the guidance and leadership of founder, the late Mr Kwek Hong Png, 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.
With the late Mr Kwek’s aspiration and strong 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 headquarters till 2018.
CDL made its maiden foray into the hospitality industry with the development of King’s Hotel (now 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 rapid expansion and regionalisation. Today, CDL's hospitality arm, Millennium & Copthorne Hotels Limited (M&C) is Singapore's largest international hotel group and one of the largest hotel owners and operators in the world.
50 Years of
With over five decades of track record, CDL has built a distinctive legacy of industry leadership and championing green buildings, fuelled by our vision to conserve as we construct. We look forward to achieving new milestones as we continue to transform the eco-landscape as well as to set benchmarks in innovation and sustainable developments. And to press on for our biggest reward – a better home for everyone to live in.