South Beach Consortium can afford to be patient

AFTER labouring for seven years, City Developments Ltd (CDL) is finally starting to see the fruits of its hard work for the South Beach project.

The first component to be completed is the 34-storey office tower, with Temporary Occupation Permit slated to be received by year-end. South Beach Tower, as the office block is known, has 500,000 square feet net lettable area, of which 80-90 per cent was already leased as at last week. The first office tenants are scheduled to begin operations in the first quarter of 2015.

If all goes according to plan, a 654-room hip hotel, The South Beach, will open in April 2015, as will a private club housed in the former Non-Commissioned Officers Club building, which has been conserved.