The Group is cognisant of the importance of diversification into overseas markets. Since 2010, the Group has expanded into China, United Kingdom (UK)/Europe, Japan and Australia primarily on the property development front and continues to seek opportunities in these markets.
In September 2017, the Group’s wholly- owned subsidiary CDL China Limited entered into a strategic partnership with Vanke, one of the top three residential developers in China. This strategic partnership will enable the Group to tap on Vanke’s expertise in residential developments in China and pave the way for future collaborations and business expansion opportunities in both China and Singapore.
The Group also continued to make strategic investments into disruptors with the potential to transform the future real estate landscape. As an existing shareholder of Distrii, one of China’s leading operators of co-working spaces, the Group participated in Distrii’s latest Series A funding round in September 2017.
CDL is also a shareholder in mamahome, one of China’s fastest growing online apartment rental platforms with about 230,000 apartment listings spanning across 30 cities in China. Given the increasing trend for the rental market and its strong presence, mamahome has successfully set up strategic partnerships with various sizable market players and is set to grow significantly in scale.
In October 2017, the Group’s 240-unit Teddington Riverside development in the Borough of Richmond was soft-launched. It has received an encouraging level of enquiries, and is on track for completion by Q4 2019.
The Group also submitted a new planning application for our 22-acre site at the former Stag Brewery at Mortlake in February 2018, to be developed into a £1.25 billion mega mixed-use township including a high street, green space, green link, secondary school, recreation and sporting facilities, offices, homes and a care village containing assisted living units and a care home. The CDL Group is the master developer for this site, a concept which is currently being advocated in Singapore for larger plots of land.
The Group’s 20% JV residential project, the prime freehold 160-unit Park Court Aoyama The Tower, is now over 80% sold. This is a prime residential project located in the highly sought-after Aoyama district within central Tokyo. The project is expected to be completed in March 2018 and will be handed over to purchasers progressively.
In 2017, the Group entered into a collaboration with Waterbrook Lifestyle Resorts to develop two luxury five-star retirement villages in New South Wales. Both projects are currently in planning stages.