CDL's partnership with Hongkong Land may be better route for it to grow in China
HONGKONG Land's H78 fully-owned subsidiary MCL Land and C09 : C09 0% (CDL) seem to have formed an alliance of sorts. Since March 2019, the duo have teamed up to bid for more than half a dozen residential sites at Singapore Government Land Sales (GLS) tenders. They have been successful on two occasions so far, both this year.
The first was in April, when they placed the highest bid for a plot directly connected to Farrer Park MRT station near Mustafa Centre. The site is designated for private housing development with commercial space at the first storey.
Then, in May, an MCL Land and CDL partnership placed the winning top bid for the maiden executive condominium (EC) housing site in the new estate of Tengah in western Singapore. ECs are a public-private housing hybrid.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
HSBC appoints ex-Citi banker as new Singapore head of global banking
H2G Green chief to stand trial on Aug 5 amid MOM probe
Dasin Retail Trust’s trustee-manager chairman, directors deny allegations of misconduct
Microsoft adds security chiefs to product groups in wake of hacking woes
Singapore shares climb at Friday’s open; STI up 0.2%
A timeline of DBS’ recent banking glitches